Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have received an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $46.89.

A number of research firms recently commented on TYRA. Wedbush reiterated an “outperform” rating and issued a $53.00 target price on shares of Tyra Biosciences in a report on Thursday, September 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Tyra Biosciences in a report on Wednesday, August 5th. Piper Sandler reiterated an “overweight” rating and set a $56.00 price objective on shares of Tyra Biosciences in a research report on Tuesday, September 8th. HC Wainwright reduced their price objective on Tyra Biosciences from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Friday, July 17th.

Tyra Biosciences Trading Down 3.9%

Shares of NASDAQ:TYRA opened at $21.01 on Friday. The company has a 50 day moving average of $26.04 and a 200-day moving average of $30.76. The firm has a market cap of $1.25 billion, a P/E ratio of -8.75 and a beta of 0.75. Tyra Biosciences has a twelve month low of $12.98 and a twelve month high of $40.65.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). Equities research analysts forecast that Tyra Biosciences will post -2.68 EPS for the current year.

Hedge Funds Weigh In On Tyra Biosciences

A number of institutional investors have recently bought and sold shares of TYRA. Jupiter Topco LLC acquired a new stake in shares of Tyra Biosciences in the second quarter worth $139,161,000. BlackRock Inc. acquired a new position in Tyra Biosciences during the second quarter valued at $96,841,000. 5AM Venture Management LLC purchased a new stake in Tyra Biosciences in the 2nd quarter worth about $32,875,778. Janus Henderson Group PLC lifted its stake in Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock worth $148,867,000 after acquiring an additional 955,147 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in Tyra Biosciences during the 1st quarter worth about $24,222,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.

About Tyra Biosciences

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancers and other diseases driven by genetic alterations. The company uses its proprietary SNAP platform to design small-molecule therapies intended to selectively target clinically important mutations while addressing resistance mechanisms that can limit existing treatments.

Tyra’s lead development program is TYRA-300, an orally administered, selective FGFR3 inhibitor being evaluated for the treatment of FGFR3-driven cancers, including urothelial carcinoma.