Tyra Biosciences, Inc. (NASDAQ:TYRA) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $47.20.

Several equities research analysts recently weighed in on TYRA shares. Cantor Fitzgerald restated an “overweight” rating on shares of Tyra Biosciences in a report on Thursday, September 10th. Jefferies Financial Group reiterated a “buy” rating and set a $42.00 price target on shares of Tyra Biosciences in a report on Wednesday, August 5th. William Blair upgraded shares of Tyra Biosciences to a “strong-buy” rating in a report on Wednesday, September 23rd. Raymond James Financial reissued a “strong-buy” rating and issued a $50.00 target price on shares of Tyra Biosciences in a research note on Tuesday, October 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $56.00 price target on shares of Tyra Biosciences in a research report on Tuesday, September 8th.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in Tyra Biosciences during the 2nd quarter valued at about $139,161,000. BlackRock Inc. bought a new stake in Tyra Biosciences during the second quarter worth about $96,841,000. 5AM Venture Management LLC purchased a new stake in Tyra Biosciences in the second quarter worth about $32,875,778. Janus Henderson Group PLC grew its holdings in Tyra Biosciences by 32.5% in the first quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock worth $148,867,000 after purchasing an additional 955,147 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Tyra Biosciences in the first quarter worth about $24,222,000. Institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Stock Performance

Shares of TYRA opened at $20.42 on Tuesday. Tyra Biosciences has a fifty-two week low of $13.35 and a fifty-two week high of $40.65. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -8.51 and a beta of 0.75. The firm has a 50 day moving average price of $23.05 and a 200-day moving average price of $29.98.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.04). As a group, equities research analysts predict that Tyra Biosciences will post -2.68 earnings per share for the current year.

About Tyra Biosciences

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for patients with cancer and other diseases driven by fibroblast growth factor receptor (FGFR) abnormalities. The company uses its proprietary SNÅP platform to discover and design small-molecule therapies intended to selectively target FGFR alterations while addressing mechanisms of treatment resistance.

Tyra’s lead program, TYRA-300, is an oral, selective FGFR3 inhibitor being evaluated in clinical studies for FGFR3-altered urothelial cancer and other potential indications.