Tyra Biosciences’ (TYRA) “Outperform” Rating Reaffirmed at Wedbush

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $28.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 62.22% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Tyra Biosciences in a research note on Friday.

Tyra Biosciences Stock Performance

Shares of NASDAQ TYRA traded down $0.50 during trading hours on Friday, hitting $17.26. 11,744 shares of the stock were exchanged, compared to its average volume of 129,219. Tyra Biosciences has a 1-year low of $10.38 and a 1-year high of $20.67. The company has a market cap of $906.50 million, a PE ratio of -10.89 and a beta of 1.08. The company’s fifty day simple moving average is $17.09 and its two-hundred day simple moving average is $15.05.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.05). As a group, sell-side analysts expect that Tyra Biosciences will post -1.89 EPS for the current fiscal year.

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, COO Daniel Bensen sold 1,501 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $20.00, for a total value of $30,020.00. Following the transaction, the chief operating officer now directly owns 451,480 shares of the company’s stock, valued at $9,029,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,229 shares of company stock valued at $124,736 in the last three months. Corporate insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Several institutional investors have recently bought and sold shares of the stock. Simplex Trading LLC boosted its holdings in Tyra Biosciences by 198.1% during the 3rd quarter. Simplex Trading LLC now owns 2,009 shares of the company’s stock worth $27,000 after acquiring an additional 1,335 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Tyra Biosciences by 1,244.2% during the fourth quarter. Federated Hermes Inc. now owns 2,070 shares of the company’s stock valued at $29,000 after purchasing an additional 1,916 shares in the last quarter. AJOVista LLC purchased a new position in Tyra Biosciences during the fourth quarter worth about $59,000. Exchange Traded Concepts LLC grew its position in Tyra Biosciences by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,531 shares of the company’s stock worth $132,000 after purchasing an additional 2,417 shares in the last quarter. Finally, Corton Capital Inc. purchased a new stake in Tyra Biosciences in the 3rd quarter valued at about $152,000. Institutional investors own 84.14% of the company’s stock.

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.