Tyra Biosciences (NASDAQ:TYRA) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Tyra Biosciences has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a significant shift in analyst sentiment towards the stock.
• Despite the downgrade, other analysts like Oppenheimer and HC Wainwright maintain "outperform" and "buy" ratings, respectively, with target prices of $36.00 and $30.00.
• The company's stock has experienced considerable volatility, with a 1-year low of $6.42 and a high of $29.60, reflecting the mixed analyst opinions and market performance.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Friday.

Other analysts have also recently issued research reports about the stock. Oppenheimer reiterated an "outperform" rating and issued a $36.00 price target on shares of Tyra Biosciences in a research note on Wednesday, September 10th. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Friday, August 22nd. Finally, Raymond James Financial assumed coverage on Tyra Biosciences in a research note on Tuesday, September 2nd. They set a "strong-buy" rating and a $35.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $31.86.

Tyra Biosciences Price Performance

TYRA stock opened at $12.97 on Friday. Tyra Biosciences has a 1-year low of $6.42 and a 1-year high of $29.60. The company has a market capitalization of $691.30 million, a price-to-earnings ratio of -7.29 and a beta of 1.10. The business has a 50 day simple moving average of $11.64 and a two-hundred day simple moving average of $10.38.

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

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE lifted its position in Tyra Biosciences by 50.5% in the first quarter. US Bancorp DE now owns 5,435 shares of the company's stock worth $51,000 after buying an additional 1,823 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Tyra Biosciences in the fourth quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Tyra Biosciences in the 1st quarter worth about $84,000. Exchange Traded Concepts LLC lifted its holdings in shares of Tyra Biosciences by 42.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,861 shares of the company's stock worth $110,000 after acquiring an additional 3,550 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 worth $126,000 after purchasing an additional 1,668 shares during the period. Hedge funds and other institutional investors own 84.14% of the company's stock.

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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