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

Key Points

• Tyra Biosciences, Inc. has received a consensus rating of "Buy" from six research firms, with an average 12-month price target of $30.83.
• The stock is currently valued at $10.20 after a decline of 5.6%, showing a substantial difference from its 52-week high of $29.60.
• Insiders have sold 61,392 shares of the company in the last three months, which reflects a 15.20% ownership stake from insiders.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) has been assigned an average rating of "Buy" from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.8333.

TYRA has been the topic of a number of research reports. HC Wainwright reissued a "buy" rating and issued a $30.00 price objective on shares of Tyra Biosciences in a research note on Friday. Piper Sandler initiated coverage on Tyra Biosciences in a research note on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 price objective on the stock.

Tyra Biosciences Trading Up 0.1%

TYRA traded up $0.01 during trading hours on Wednesday, hitting $11.71. The company's stock had a trading volume of 242,316 shares, compared to its average volume of 206,823. Tyra Biosciences has a fifty-two week low of $6.42 and a fifty-two week high of $29.60. The firm has a market capitalization of $624.14 million, a PE ratio of -6.58 and a beta of 1.08. The company has a 50-day simple moving average of $10.38 and a 200 day simple moving average of $10.27.

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 analysts' consensus estimates of ($0.53) by $0.06. Research analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gilla Kaplan sold 30,000 shares of Tyra Biosciences stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $10.31, for a total value of $309,300.00. Following the transaction, the director directly owned 59,623 shares in the company, valued at $614,713.13. The trade was a 33.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 61,392 shares of company stock valued at $628,358. Insiders own 15.20% of the company's stock.

Hedge Funds Weigh In On Tyra Biosciences

A number of hedge funds have recently modified their holdings of TYRA. US Bancorp DE grew its holdings in shares of Tyra Biosciences by 50.5% in the 1st quarter. US Bancorp DE now owns 5,435 shares of the company's stock worth $51,000 after acquiring an additional 1,823 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Tyra Biosciences in the 4th quarter worth $60,000. Aquatic Capital Management LLC acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth $64,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Tyra Biosciences in the first quarter worth $84,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Tyra Biosciences by 42.7% in the first quarter. Exchange Traded Concepts LLC now owns 11,861 shares of the company's stock worth $110,000 after buying an additional 3,550 shares during the period. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences Company Profile

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.