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

Key Points

• Tyra Biosciences, Inc. has received a consensus rating of "Moderate Buy" from eight brokerages, with one sell rating and six buy ratings, indicating a generally positive outlook for the company.
• Oppenheimer has set a price target of $36.00 for Tyra Biosciences' shares, while Raymond James Financial issued a strong buy rating with a $35.00 target.
• The company's stock is currently priced at $13.63 and has a significant institutional ownership of 84.14%, suggesting strong investor confidence.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $31.8571.

Several equities analysts have recently issued reports on TYRA shares. Oppenheimer restated an "outperform" rating and set a $36.00 price objective on shares of Tyra Biosciences in a report on Wednesday, September 10th. Wall Street Zen raised Tyra Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. HC Wainwright reissued a "buy" rating and issued a $30.00 price objective on shares of Tyra Biosciences in a report on Friday, August 22nd. Raymond James Financial assumed coverage on Tyra Biosciences in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $35.00 price objective on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tyra Biosciences in a report on Wednesday.

Tyra Biosciences Stock Up 1.9%

NASDAQ TYRA opened at $13.63 on Thursday. The firm has a market cap of $726.44 million, a PE ratio of -7.66 and a beta of 1.11. The company has a 50 day moving average price of $12.06 and a 200 day moving average price of $10.52. Tyra Biosciences has a 52 week low of $6.42 and a 52 week high of $29.60.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.06. On average, equities research analysts anticipate that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYRA. Commodore Capital LP grew its position in Tyra Biosciences by 226.3% during the 2nd quarter. Commodore Capital LP now owns 3,100,000 shares of the company's stock worth $29,667,000 after purchasing an additional 2,150,000 shares during the period. Vestal Point Capital LP grew its position in Tyra Biosciences by 190.9% during the first quarter. Vestal Point Capital LP now owns 2,879,829 shares of the company's stock valued at $26,782,000 after buying an additional 1,889,829 shares during the period. Sio Capital Management LLC grew its position in Tyra Biosciences by 94.5% during the second quarter. Sio Capital Management LLC now owns 810,274 shares of the company's stock valued at $7,754,000 after buying an additional 393,657 shares during the period. Balyasny Asset Management L.P. grew its position in Tyra Biosciences by 139.8% during the second quarter. Balyasny Asset Management L.P. now owns 583,386 shares of the company's stock valued at $5,583,000 after buying an additional 340,142 shares during the period. Finally, Bank of America Corp DE grew its position in Tyra Biosciences by 346.6% during the second quarter. Bank of America Corp DE now owns 372,967 shares of the company's stock valued at $3,569,000 after buying an additional 289,446 shares during the period. 84.14% of the stock is owned by institutional investors and hedge funds.

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.

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