Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives $37.17 Average Price Target from Brokerages

Tyra Biosciences, Inc. (NASDAQ:TYRA) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $39.8333.

A number of brokerages have weighed in on TYRA. William Blair began coverage on shares of Tyra Biosciences in a research report on Tuesday, February 10th. They set an “outperform” rating on the stock. Jefferies Financial Group lifted their target price on shares of Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Wednesday, January 21st. Wedbush increased their price target on Tyra Biosciences from $37.00 to $53.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler boosted their price objective on Tyra Biosciences from $33.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd.

Tyra Biosciences Price Performance

Shares of NASDAQ:TYRA opened at $27.99 on Wednesday. The business has a 50-day moving average of $27.66 and a two-hundred day moving average of $18.97. The firm has a market capitalization of $1.49 billion, a PE ratio of -14.97 and a beta of 1.07. Tyra Biosciences has a 12 month low of $6.42 and a 12 month high of $33.99.

Insider Buying and Selling

In other Tyra Biosciences news, Director Robert J. More sold 246,871 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $20.25, for a total value of $4,999,137.75. Following the completion of the sale, the director owned 3,833,425 shares of the company’s stock, valued at $77,626,856.25. This trade represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.20% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

A number of large investors have recently added to or reduced their stakes in the company. Corton Capital Inc. acquired a new position in shares of Tyra Biosciences in the 2nd quarter valued at approximately $233,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Tyra Biosciences in the second quarter worth $326,000. Sio Capital Management LLC increased its stake in shares of Tyra Biosciences by 94.5% in the second quarter. Sio Capital Management LLC now owns 810,274 shares of the company’s stock worth $7,754,000 after buying an additional 393,657 shares during the last quarter. AlphaQuest LLC raised its holdings in Tyra Biosciences by 146.7% in the second quarter. AlphaQuest LLC now owns 73,073 shares of the company’s stock valued at $699,000 after acquiring an additional 43,451 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in Tyra Biosciences by 163.2% during the 2nd quarter. Walleye Capital LLC now owns 370,408 shares of the company’s stock valued at $3,545,000 after acquiring an additional 229,666 shares during the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Company Profile

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.