Tyra Biosciences (NASDAQ:TYRA) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Tyra Biosciences and set a $45 price target, implying approximately 58% upside from the reported $28.42 share price.
• Analyst sentiment is broadly positive: 12 analysts rate the stock a Buy, one rates it Hold and one rates it Sell, resulting in a consensus “Moderate Buy” rating and an average target of $48.22.
• Tyra’s shares rose to $28.42 in Friday trading, while the company reported a quarterly loss of $0.69 per share, missing estimates by $0.04. Institutional investors own approximately 84.14% of the stock.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $45.00 target price on the stock. HC Wainwright's target price would suggest a potential upside of 58.34% from the stock's current price.

A number of other equities analysts have also recently issued reports on the company. JonesTrading initiated coverage on Tyra Biosciences in a report on Wednesday, June 17th. They issued a "buy" rating and a $56.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Tyra Biosciences in a report on Friday, July 17th. Jefferies Financial Group restated a "buy" rating and issued a $42.00 target price on shares of Tyra Biosciences in a research report on Wednesday, August 5th. Wolfe Research started coverage on Tyra Biosciences in a research note on Tuesday, May 19th. They issued a "peer perform" rating for the company. Finally, Bank of America increased their price target 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. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.22.

Tyra Biosciences Price Performance

TYRA stock traded up $3.56 during midday trading on Friday, reaching $28.42. The company had a trading volume of 867,555 shares, compared to its average volume of 865,043. The firm has a 50-day moving average price of $29.09 and a 200-day moving average price of $32.05. The company has a market capitalization of $1.70 billion, a P/E ratio of -11.82 and a beta of 0.73. Tyra Biosciences has a 1 year low of $11.70 and a 1 year high of $40.65.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.04). On average, equities analysts predict that Tyra Biosciences will post -2.74 EPS for the current year.

Hedge Funds Weigh In On Tyra Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in Tyra Biosciences by 55,815.5% in the second quarter. California State Teachers Retirement System now owns 783,935 shares of the company's stock valued at $24,544,000 after purchasing an additional 782,533 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Tyra Biosciences in the second quarter worth approximately $334,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tyra Biosciences by 125.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,688 shares of the company's stock worth $565,000 after buying an additional 9,856 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Tyra Biosciences during the 2nd quarter valued at $237,000. Finally, Capstone Investment Advisors LLC bought a new stake in Tyra Biosciences during the 2nd quarter valued at $321,000. 84.14% of the stock is currently owned by institutional investors.

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.

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