Tyra Biosciences, Inc. (NASDAQ:TYRA) Stock Has Average Target Price of $47.20 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Tyra Biosciences, with 11 buy, two strong-buy, one hold and one sell rating. The average 12-month price target is $47.20.
• Recent analyst actions were mixed: Oppenheimer cut its target to $40 from $50, while HC Wainwright reduced its target to $29; Wedbush maintained a $53 target and Cantor Fitzgerald reiterated its overweight rating.
• TYRA opened at $19.34, well below its $47.20 consensus target, while institutional investors own 84.14% of the stock. The company reported a quarterly loss of $0.69 per share, missing estimates by $0.04, and is developing TYRA-300 for FGFR3-driven cancers.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $47.20.

Several equities analysts recently issued reports on TYRA shares. Oppenheimer restated an "outperform" rating and set a $40.00 price target (down from $50.00) on shares of Tyra Biosciences in a research note on Tuesday, September 22nd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Tyra Biosciences in a research report on Thursday, September 10th. HC Wainwright reduced their price objective on Tyra Biosciences from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. Wedbush reissued an "outperform" rating and set a $53.00 price objective on shares of Tyra Biosciences in a report on Thursday, September 10th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tyra Biosciences in a research report on Thursday.

Institutional Investors Weigh In On Tyra Biosciences

A number of institutional investors have recently bought and sold shares of TYRA. Hilton Head Capital Partners LLC acquired a new stake in Tyra Biosciences during the 1st quarter valued at $30,000. Public Employees Retirement System of Ohio raised its position in Tyra Biosciences by 10.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 20,522 shares of the company's stock valued at $786,000 after purchasing an additional 1,980 shares during the last quarter. State of Wyoming acquired a new position in Tyra Biosciences in the second quarter worth $76,000. Caitong International Asset Management Co. Ltd acquired a new position in Tyra Biosciences in the fourth quarter worth $79,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Tyra Biosciences during the second quarter worth $230,000. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Price Performance

NASDAQ TYRA opened at $19.34 on Tuesday. The company's fifty day moving average is $23.58 and its two-hundred day moving average is $29.28. Tyra Biosciences has a 52-week low of $13.35 and a 52-week high of $40.65. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -8.06 and a beta of 0.75.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) EPS 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 -2.68 earnings per share for the current fiscal year.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancers and other diseases driven by genetic alterations. The company uses its proprietary SNAP platform to design small-molecule therapies intended to selectively target clinically important mutations while addressing resistance mechanisms that can limit existing treatments.

Tyra's lead development program is TYRA-300, an orally administered, selective FGFR3 inhibitor being evaluated for the treatment of FGFR3-driven cancers, including urothelial carcinoma.

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