Tyra Biosciences (NASDAQ:TYRA) Price Target Lowered to $29.00 at HC Wainwright

Key Points

• HC Wainwright lowered Tyra Biosciences’ price target to $29 from $30 while maintaining a “buy” rating, implying approximately 13% upside from the stock’s $25.65 opening price.
• Analyst sentiment remains broadly positive, with 11 buy ratings, one hold, and one sell; the consensus rating is “Moderate Buy” with an average price target of $47.75.
• Tyra reported a quarterly loss of $0.69 per share, missing the $0.65 consensus estimate, while institutional investors own 84.14% of the company’s shares.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) had its target price lowered by research analysts at HC Wainwright from $30.00 to $29.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target would indicate a potential upside of 13.06% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group reissued a "buy" rating and issued a $42.00 price target on shares of Tyra Biosciences in a research note on Wednesday, August 5th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tyra Biosciences in a research report on Thursday, September 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tyra Biosciences in a report on Friday, July 17th. Bank of America increased their target price on Tyra Biosciences from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Finally, Wedbush restated an "outperform" rating and issued a $53.00 target price on shares of Tyra Biosciences in a research note on Thursday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.75.

Tyra Biosciences Price Performance

TYRA opened at $25.65 on Tuesday. Tyra Biosciences has a one year low of $12.38 and a one year high of $40.65. The business has a 50 day simple moving average of $27.52 and a two-hundred day simple moving average of $31.48. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -10.69 and a beta of 0.73.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.04). As a group, sell-side analysts expect that Tyra Biosciences will post -2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Tyra Biosciences

A number of hedge funds have recently bought and sold shares of TYRA. Walleye Capital LLC bought a new position in shares of Tyra Biosciences in the second quarter worth approximately $11,112,000. 5AM Venture Management LLC bought a new stake in shares of Tyra Biosciences during the second quarter valued at approximately $32,875,778. Bank of America Corp DE increased its position in shares of Tyra Biosciences by 448.0% during the first quarter. Bank of America Corp DE now owns 209,922 shares of the company's stock valued at $8,040,000 after acquiring an additional 171,612 shares in the last quarter. Seven Fleet Capital Management LP raised its holdings in Tyra Biosciences by 149.6% in the 1st quarter. Seven Fleet Capital Management LP now owns 198,585 shares of the company's stock worth $7,606,000 after acquiring an additional 119,025 shares during the last quarter. Finally, Algert Global LLC lifted its position in Tyra Biosciences by 27.2% in the 2nd quarter. Algert Global LLC now owns 239,120 shares of the company's stock valued at $7,637,000 after acquiring an additional 51,110 shares in the last quarter. Institutional investors own 84.14% of the company's stock.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for diseases with limited treatment options. The company uses its proprietary SNÅP platform to design small-molecule therapies intended to selectively target disease-driving genetic alterations while addressing resistance mechanisms that can reduce the effectiveness of existing treatments.

Tyra's lead programs are directed at fibroblast growth factor receptor (FGFR) biology. TYRA-300 is an oral, selective FGFR3 inhibitor being developed for conditions including FGFR3-altered urothelial cancer and achondroplasia, a genetic skeletal disorder.

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