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

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) have received a consensus rating of "Buy" from the six brokerages that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $30.83.

A number of research firms recently weighed in on TYRA. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Tyra Biosciences in a report on Monday, March 31st. Piper Sandler began coverage on Tyra Biosciences in a report on Wednesday, May 21st. They set an "overweight" rating and a $33.00 target price on the stock. Finally, Wedbush reissued an "outperform" rating and set a $30.00 target price on shares of Tyra Biosciences in a report on Friday, March 28th.

Tyra Biosciences Stock Performance

Tyra Biosciences stock traded down $0.29 during midday trading on Friday, reaching $10.26. The stock had a trading volume of 853,356 shares, compared to its average volume of 274,630. The firm's fifty day simple moving average is $9.35 and its 200-day simple moving average is $12.08. Tyra Biosciences has a 1-year low of $6.42 and a 1-year high of $29.60. The stock has a market capitalization of $544.70 million, a P/E ratio of -6.37 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate 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.

Institutional Trading of Tyra Biosciences

Several institutional investors have recently added to or reduced their stakes in TYRA. Alta Partners Management Company L.P. bought a new stake in Tyra Biosciences in the 4th quarter valued at $56,716,000. Boxer Capital Management LLC bought a new stake in Tyra Biosciences in the 4th quarter valued at $28,185,000. Vestal Point Capital LP boosted its stake in Tyra Biosciences by 190.9% in the 1st quarter. Vestal Point Capital LP now owns 2,879,829 shares of the company's stock valued at $26,782,000 after purchasing an additional 1,889,829 shares during the period. Farallon Capital Management LLC bought a new stake in Tyra Biosciences in the 4th quarter valued at $13,914,000. Finally, Orbimed Advisors LLC boosted its stake in Tyra Biosciences by 91.3% in the 4th quarter. Orbimed Advisors LLC now owns 1,470,086 shares of the company's stock valued at $20,434,000 after purchasing an additional 701,448 shares during the period. 84.14% of the stock is currently owned by institutional investors.

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.