Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives Consensus Recommendation of “Buy” from Brokerages

Tyra Biosciences, Inc. (NASDAQ:TYRA) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $30.50.

Several analysts have recently issued reports on TYRA shares. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $22.00 to $31.00 in a research report on Friday, October 18th. UBS Group began coverage on shares of Tyra Biosciences in a report on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Friday, October 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a research report on Monday, January 13th.

Insider Buying and Selling at Tyra Biosciences

In other Tyra Biosciences news, Director Nina S. Kjellson sold 7,779 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $16.29, for a total value of $126,719.91. Following the sale, the director now owns 447,857 shares of the company’s stock, valued at $7,295,590.53. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 17,673 shares of company stock valued at $288,803 in the last three months. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in Tyra Biosciences by 0.8% during the third quarter. FMR LLC now owns 3,372,850 shares of the company’s stock valued at $79,296,000 after purchasing an additional 26,187 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Tyra Biosciences during the 3rd quarter valued at $24,994,000. State Street Corp lifted its holdings in shares of Tyra Biosciences by 4.4% during the 3rd quarter. State Street Corp now owns 384,732 shares of the company’s stock worth $9,045,000 after acquiring an additional 16,248 shares during the last quarter. JPMorgan Chase & Co. grew its position in Tyra Biosciences by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company’s stock worth $8,667,000 after acquiring an additional 3,896 shares in the last quarter. Finally, Ally Bridge Group NY LLC increased its stake in Tyra Biosciences by 2.0% in the third quarter. Ally Bridge Group NY LLC now owns 270,075 shares of the company’s stock valued at $6,349,000 after acquiring an additional 5,415 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Price Performance

Shares of TYRA opened at $14.46 on Friday. Tyra Biosciences has a 1 year low of $12.48 and a 1 year high of $29.60. The stock’s fifty day moving average price is $15.30 and its two-hundred day moving average price is $18.99. The firm has a market cap of $731.72 million, a PE ratio of -8.98 and a beta of 1.04.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Sell-side analysts anticipate that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.