Tyra Biosciences (NASDAQ:TYRA) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

• Wedbush raised its Tyra Biosciences price target to $57 from $53 and maintained an “outperform” rating, implying 171.43% potential upside from the prior close.
• Analyst sentiment is mostly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $47.40, though one analyst rates the stock a sell.
• Shares opened at $21 after falling 5.8%, and the company reported a quarterly loss of $0.74 per share, missing the $0.67 loss analysts expected.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) had its target price upped by analysts at Wedbush from $53.00 to $57.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price objective would indicate a potential upside of 171.43% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $42.00 price target on shares of Tyra Biosciences in a research note on Wednesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tyra Biosciences in a research note on Thursday, October 15th. Cantor Fitzgerald restated an "overweight" rating on shares of Tyra Biosciences in a report on Thursday, September 10th. Oppenheimer reaffirmed an "outperform" rating and set a $40.00 target price (down from $50.00) on shares of Tyra Biosciences in a research note on Tuesday, September 22nd. Finally, HC Wainwright reduced their target price on shares of Tyra Biosciences from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tyra Biosciences has an average rating of "Moderate Buy" and a consensus price target of $47.40.

Tyra Biosciences Stock Down 5.8%

TYRA opened at $21.00 on Wednesday. Tyra Biosciences has a 52 week low of $13.83 and a 52 week high of $40.65. The business has a fifty day simple moving average of $22.04 and a 200-day simple moving average of $29.54. The firm has a market cap of $1.25 billion, a P/E ratio of -8.75 and a beta of 0.65.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its quarterly earnings data on Tuesday, November 10th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.07). Sell-side analysts expect that Tyra Biosciences will post -2.68 earnings per share for the current year.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company's stock valued at $148,867,000 after acquiring an additional 955,147 shares during the last quarter. Jupiter Topco LLC acquired a new position in Tyra Biosciences in the second quarter valued at approximately $139,161,000. BlackRock Inc. purchased a new position in Tyra Biosciences in the second quarter valued at approximately $96,841,000. 5AM Venture Management LLC purchased a new position in Tyra Biosciences in the second quarter valued at approximately $32,875,778. Finally, Jennison Associates LLC purchased a new position in Tyra Biosciences in the first quarter valued at approximately $24,222,000. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc. is a clinical-stage biopharmaceutical company developing precision medicines for genetically defined diseases. Its research focuses on small-molecule therapies that target the fibroblast growth factor receptor (FGFR) family and related pathways, using a drug-discovery approach designed to address resistance and selectivity challenges. The company's pipeline includes TYRA-300, a selective FGFR3 inhibitor being studied for conditions including achondroplasia and urothelial cancer, and TYRA-200, an FGFR inhibitor being developed for certain cancers.

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