Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Tyra Biosciences has received a consensus rating of "Buy" from six research firms, with an average 12-month price target of $30.83.
• Insider trading activity showed that the company's director Gilla Kaplan sold 9,568 shares recently, marking a 25.31% decrease in their position.
• The stock price of Tyra Biosciences increased by 2.6%, trading at $11.06, with a market cap of approximately $587.18 million.

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) have been assigned an average recommendation of "Buy" from the six brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.83.

A number of research firms recently issued reports on TYRA. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a research report on Tuesday, July 1st. Piper Sandler started coverage on Tyra Biosciences in a research note on Wednesday, May 21st. They set an "overweight" rating and a $33.00 price objective on the stock.

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, Director Gilla Kaplan sold 30,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $10.31, for a total transaction of $309,300.00. Following the completion of the sale, the director owned 59,623 shares of the company's stock, valued at $614,713.13. This trade represents a 33.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 61,392 shares of company stock worth $628,358. Insiders own 15.20% of the company's stock.

Hedge Funds Weigh In On Tyra Biosciences

Several large investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in Tyra Biosciences in the 4th quarter valued at about $31,000. US Bancorp DE lifted its holdings in Tyra Biosciences by 50.5% during the 1st quarter. US Bancorp DE now owns 5,435 shares of the company's stock worth $51,000 after purchasing an additional 1,823 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Tyra Biosciences in the 4th quarter valued at $60,000. Aquatic Capital Management LLC acquired a new position in Tyra Biosciences in the 4th quarter valued at $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Tyra Biosciences during the 1st quarter worth $84,000. 84.14% of the stock is owned by institutional investors.

Tyra Biosciences Stock Performance

Tyra Biosciences stock traded up $0.09 during midday trading on Friday, reaching $11.20. The stock had a trading volume of 234,866 shares, compared to its average volume of 256,257. The stock has a market capitalization of $594.61 million, a P/E ratio of -6.87 and a beta of 1.07. The firm's fifty day simple moving average is $10.00 and its 200-day simple moving average is $10.86. Tyra Biosciences has a 1-year low of $6.42 and a 1-year high of $29.60.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.02. On average, sell-side analysts anticipate that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

About Tyra Biosciences

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.