Tyra Biosciences (NASDAQ:TYRA) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Tyra Biosciences was upgraded from a "sell" to a "hold" rating by Wall Street Zen, signaling a shift in investor sentiment.
• Analysts from HC Wainwright, Raymond James Financial, and Oppenheimer have set target prices ranging from $30.00 to $36.00 for Tyra Biosciences, indicating strong interest in the stock.
• The company recently reported ($0.47) earnings per share, exceeding analysts' expectations of ($0.53), and has a market capitalization of approximately $667.32 million.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other equities analysts have also commented on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $36.00 target price on shares of Tyra Biosciences in a report on Wednesday, September 10th. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Tyra Biosciences in a research report on Friday, August 22nd. Piper Sandler initiated coverage on shares of Tyra Biosciences in a research report on Wednesday, May 21st. They set an "overweight" rating and a $33.00 price target for the company. Finally, Raymond James Financial initiated coverage on shares of Tyra Biosciences in a research report 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 issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $31.86.

Tyra Biosciences Stock Performance

Shares of TYRA stock traded down $0.21 on Friday, hitting $12.31. 216,543 shares of the company's stock traded hands, compared to its average volume of 232,642. Tyra Biosciences has a one year low of $6.42 and a one year high of $29.60. The company's fifty day simple moving average is $11.24 and its 200 day simple moving average is $10.26. The stock has a market capitalization of $656.12 million, a price-to-earnings ratio of -6.92 and a beta of 1.09.

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

Insider Transactions at Tyra Biosciences

In related news, Director Gilla Kaplan sold 9,568 shares of Tyra Biosciences stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $9.78, for a total transaction of $93,575.04. Following the completion of the transaction, the director directly owned 28,231 shares of the company's stock, valued at $276,099.18. This trade represents a 25.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Commodore Capital LP grew its position in Tyra Biosciences by 226.3% in 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% in the 1st quarter. Vestal Point Capital LP now owns 2,879,829 shares of the company's stock worth $26,782,000 after purchasing an additional 1,889,829 shares during the period. Sio Capital Management LLC grew its position in Tyra Biosciences by 94.5% in the 2nd quarter. Sio Capital Management LLC now owns 810,274 shares of the company's stock worth $7,754,000 after purchasing an additional 393,657 shares during the period. Balyasny Asset Management L.P. grew its position in Tyra Biosciences by 139.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 583,386 shares of the company's stock worth $5,583,000 after purchasing an additional 340,142 shares during the period. Finally, Millennium Management LLC grew its position in Tyra Biosciences by 2,900.2% in the 4th quarter. Millennium Management LLC now owns 315,141 shares of the company's stock worth $4,380,000 after purchasing an additional 304,637 shares during the period. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.