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

Key Points

• Analysts remain broadly optimistic: Tyra Biosciences has a “Moderate Buy” consensus from 15 research firms, including 12 buy and one strong-buy rating. The average 12-month price target is $46.90.
• Shares have declined sharply: TYRA opened at $25.71, down 21%, and trades below both its 50-day and 200-day moving averages. The stock’s 12-month range is $9.96 to $40.65.
• Recent earnings fell short of expectations: Tyra reported a quarterly loss of $0.69 per share versus the $0.65 consensus estimate, while analysts expect a full-year loss of $2.68 per share. Institutional investors own 84.14% of the company.

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fifteen research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $46.90.

A number of brokerages have recently issued reports on TYRA. Bank of America boosted their price objective on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. JonesTrading started coverage on Tyra Biosciences in a report on Wednesday, June 17th. They issued a "buy" rating and a $56.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $45.00 target price 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 target on shares of Tyra Biosciences in a report on Wednesday. Finally, Guggenheim began coverage on Tyra Biosciences in a research report on Tuesday, April 14th. They issued a "buy" rating and a $54.00 price target for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TYRA. Hilton Head Capital Partners LLC bought a new stake in Tyra Biosciences during the 1st quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Tyra Biosciences in the fourth quarter worth approximately $51,000. Chung Wu Investment Group LLC purchased a new stake in shares of Tyra Biosciences in the fourth quarter worth $53,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 534 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company's stock valued at $126,000 after purchasing an additional 1,668 shares during the period. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Trading Down 21.0%

TYRA opened at $25.71 on Thursday. The company's 50 day moving average is $30.30 and its 200 day moving average is $32.71. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -10.71 and a beta of 0.77. Tyra Biosciences has a 12-month low of $9.96 and a 12-month high of $40.65.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.04). As a group, analysts predict that Tyra Biosciences will post -2.68 EPS for the current fiscal year.

About Tyra Biosciences

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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