Bank of America Corp DE Increases Stake in Tyra Biosciences, Inc. $TYRA

Key Points

• Bank of America increased its Tyra Biosciences stake by 448% in the first quarter, adding 171,612 shares to own 209,922 shares worth approximately $8.04 million. Institutional investors and hedge funds collectively hold 84.14% of TYRA.
• Analyst sentiment is generally positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $46.90. Price targets range from $42 to $56, although Wolfe Research rated the stock “peer perform” and Weiss Ratings maintained a sell rating.
• TYRA opened at $26.69, with a market capitalization of $1.59 billion, while its latest quarterly loss of $0.69 per share missed estimates by $0.04. Tyra is a clinical-stage oncology company developing targeted small-molecule therapies for genetically defined cancers.

Bank of America Corp DE grew its position in Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 448.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,922 shares of the company's stock after acquiring an additional 171,612 shares during the period. Bank of America Corp DE owned about 0.35% of Tyra Biosciences worth $8,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Tyra Biosciences by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company's stock worth $68,000 after acquiring an additional 534 shares in the last quarter. AQR Capital Management LLC raised its holdings in Tyra Biosciences by 2.0% during the fourth quarter. AQR Capital Management LLC now owns 28,631 shares of the company's stock worth $753,000 after purchasing an additional 562 shares during the last quarter. MetLife Investment Management LLC boosted its position in Tyra Biosciences by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 15,356 shares of the company's stock worth $404,000 after purchasing an additional 725 shares in the last quarter. Virtus Investment Advisers LLC grew its holdings in Tyra Biosciences by 6.7% in the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company's stock valued at $309,000 after purchasing an additional 741 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in Tyra Biosciences in the first quarter valued at $30,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on TYRA shares. Wolfe Research initiated coverage on shares of Tyra Biosciences in a report on Tuesday, May 19th. They issued a "peer perform" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tyra Biosciences in a report on Friday, July 17th. HC Wainwright reissued a "buy" rating and issued a $45.00 price objective on shares of Tyra Biosciences in a research report on Thursday, May 14th. Jefferies Financial Group reissued a "buy" rating and set a $42.00 price objective on shares of Tyra Biosciences in a research note on Wednesday, August 5th. Finally, JonesTrading began coverage on Tyra Biosciences in a report on Wednesday, June 17th. They set a "buy" rating and a $56.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $46.90.

Tyra Biosciences Trading Up 2.3%

NASDAQ:TYRA opened at $26.69 on Wednesday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -11.12 and a beta of 0.77. The firm's fifty day simple moving average is $29.68 and its 200 day simple moving average is $32.27. Tyra Biosciences, Inc. has a twelve month low of $11.70 and a twelve month high of $40.65.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its earnings results 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, analysts predict that Tyra Biosciences, Inc. will post -2.74 earnings per share for the current year.

Tyra Biosciences 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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