Tyra Biosciences, Inc. (NASDAQ:TYRA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $47.00.

A number of brokerages have weighed in on TYRA. Bank of America raised their target price on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group initiated coverage on Tyra Biosciences in a research note on Monday, April 6th. They issued a “buy” rating and a $50.00 price target for the company. Wolfe Research initiated coverage on Tyra Biosciences in a report on Tuesday, May 19th. They set a “peer perform” rating on the stock. Guggenheim initiated coverage on Tyra Biosciences in a research report on Tuesday, April 14th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, JonesTrading assumed coverage on Tyra Biosciences in a report on Wednesday, June 17th. They issued a “buy” rating and a $56.00 target price for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hilton Head Capital Partners LLC acquired a new stake in Tyra Biosciences during the 1st quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Tyra Biosciences in the 4th quarter valued at approximately $51,000. Chung Wu Investment Group LLC acquired a new position in Tyra Biosciences in the 4th quarter valued at approximately $53,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tyra Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after acquiring an additional 534 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tyra Biosciences by 14.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after acquiring an additional 1,668 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company’s stock.

Tyra Biosciences Trading Down 2.4%

Shares of NASDAQ TYRA opened at $31.61 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -14.50 and a beta of 0.76. Tyra Biosciences has a 12 month low of $9.96 and a 12 month high of $40.65. The stock has a 50-day moving average price of $31.20 and a two-hundred day moving average price of $32.39.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). On average, sell-side analysts predict that Tyra Biosciences will post -2.68 earnings per share for the current year.

About Tyra Biosciences

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.