Tyra Biosciences (NASDAQ:TYRA) Price Target Cut to $30.00 by Analysts at HC Wainwright

Key Points

• HC Wainwright cut Tyra Biosciences’ price target to $30 from $45 while maintaining a “buy” rating, implying 36.3% upside from the reported share price. Analysts overall remain moderately bullish, with a consensus target of $47.88.
• TYRA shares fell 17.7% to $22.01, and the company reported a quarterly loss of $0.69 per share, missing the consensus estimate of $0.65.
• Institutional investors and hedge funds own 84.14% of the stock, with several firms recently building positions; however, investor sentiment has been pressured by disappointing mid-stage bladder-cancer data and reported adverse events.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) had its price objective cut by research analysts at HC Wainwright from $45.00 to $30.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 36.30% from the stock's current price.

TYRA has been the topic of a number of other research reports. JonesTrading started coverage on Tyra Biosciences in a report on Wednesday, June 17th. They issued a "buy" rating and a $56.00 price objective on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $42.00 target price on shares of Tyra Biosciences in a report on Wednesday, August 5th. Piper Sandler reiterated an "overweight" rating and issued a $56.00 target price on shares of Tyra Biosciences in a research report on Tuesday. Wolfe Research assumed coverage on shares of Tyra Biosciences in a research note on Tuesday, May 19th. They issued a "peer perform" rating on the stock. Finally, Bank of America boosted their price target on shares of Tyra Biosciences from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.88.

Tyra Biosciences Trading Down 17.7%

NASDAQ:TYRA opened at $22.01 on Thursday. The stock has a 50 day moving average of $28.70 and a two-hundred day moving average of $31.97. Tyra Biosciences has a 12 month low of $11.70 and a 12 month high of $40.65. The firm has a market cap of $1.31 billion, a P/E ratio of -9.17 and a beta of 0.73.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.04). On average, research analysts forecast that Tyra Biosciences will post -2.74 earnings per share 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 company. Walleye Capital LLC purchased a new position in shares of Tyra Biosciences during the second quarter worth $11,112,000. 5AM Venture Management LLC acquired a new stake in shares of Tyra Biosciences in the second quarter valued at $32,875,778. Seven Fleet Capital Management LP raised its holdings in shares of Tyra Biosciences by 149.6% in the 1st quarter. Seven Fleet Capital Management LP now owns 198,585 shares of the company's stock valued at $7,606,000 after buying an additional 119,025 shares during the period. Bank of America Corp DE raised its holdings in shares of Tyra Biosciences by 448.0% in the 1st quarter. Bank of America Corp DE now owns 209,922 shares of the company's stock valued at $8,040,000 after buying an additional 171,612 shares during the period. Finally, Algert Global LLC lifted its stake in Tyra Biosciences by 27.2% during the 2nd quarter. Algert Global LLC now owns 239,120 shares of the company's stock worth $7,637,000 after acquiring an additional 51,110 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences News Summary

Here are the key news stories impacting Tyra Biosciences this week:

• Positive Sentiment: Tyra said the SURF302 study supported selection of a 60 mg once-daily dose and provided a basis for advancing dabogratinib into planned registrational studies. The company continues to pursue what it describes as a potential oral innovation for LG IR NMIBC. Tyra Biosciences Reports Initial Phase 2 SURF302 Results
• Positive Sentiment: Despite the market’s reaction, Tyra plans to continue toward pivotal development, preserving a potential future catalyst if larger studies demonstrate stronger efficacy and tolerability. Tyra Rolls Toward Pivotal Bladder Cancer Study
• Neutral Sentiment: Tyra also held a virtual fireside chat and investor meetings at the Cantor Global Healthcare Conference, providing an opportunity to explain the trial results and development strategy. Tyra Biosciences to Present at the Cantor Global Healthcare Conference
• Negative Sentiment: Investors were disappointed that the mid-stage bladder-cancer data did not clearly meet elevated expectations, particularly when compared with competing treatment approaches such as Johnson & Johnson’s Balversa. The reaction reflects uncertainty over whether dabogratinib can deliver a sufficiently differentiated benefit in later-stage testing. Tyra Disappoints Investors With Bladder Cancer Data
• Negative Sentiment: Reports also highlighted adverse events in some patients, adding safety concerns to the efficacy disappointment and contributing to the sharp decline in TYRA shares. Tyra Biosciences Shares Sink After Bladder-Cancer Treatment Causes Adverse Events

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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