Brokerages Set Tyra Biosciences, Inc. (NASDAQ:TYRA) Price Target at $30.50

Tyra Biosciences, Inc. (NASDAQ:TYRA) has received an average recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.83.

Several analysts recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Tyra Biosciences in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Tuesday, February 18th. Finally, UBS Group began coverage on Tyra Biosciences in a report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price for the company.

Tyra Biosciences Price Performance

Shares of Tyra Biosciences stock opened at $9.77 on Friday. The business has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $16.33. The stock has a market capitalization of $494.39 million, a P/E ratio of -6.07 and a beta of 1.09. Tyra Biosciences has a 12 month low of $9.49 and a 12 month high of $29.60.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.05. As a group, research analysts anticipate that Tyra Biosciences will post -1.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Nina S. Kjellson sold 3,993 shares of Tyra Biosciences stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $16.36, for a total value of $65,325.48. Following the completion of the sale, the director now owns 3,707,420 shares in the company, valued at approximately $60,653,391.20. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 21,998 shares of company stock valued at $344,818. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TYRA. Wellington Management Group LLP raised its holdings in shares of Tyra Biosciences by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 94,859 shares of the company’s stock valued at $1,319,000 after buying an additional 4,034 shares during the period. Polar Asset Management Partners Inc. grew its holdings in shares of Tyra Biosciences by 26.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 111,107 shares of the company’s stock valued at $1,544,000 after purchasing an additional 23,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tyra Biosciences by 41.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,635 shares of the company’s stock worth $495,000 after buying an additional 10,426 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Tyra Biosciences during the 4th quarter worth approximately $13,761,000. Finally, Squarepoint Ops LLC purchased a new position in Tyra Biosciences in the 4th quarter valued at approximately $253,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

About Tyra Biosciences

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.