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

Tyra Biosciences (NASDAQ:TYRA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Friday, August 22nd. Raymond James Financial started coverage on shares of Tyra Biosciences in a research note on Tuesday, September 2nd. They issued a “strong-buy” rating and a $35.00 target price on the stock. Oppenheimer reissued an “outperform” rating and set a $36.00 price target on shares of Tyra Biosciences in a research note on Wednesday. Finally, Piper Sandler started coverage on shares of Tyra Biosciences in a research note on Wednesday, May 21st. They set an “overweight” rating and a $33.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $31.86.

Tyra Biosciences Trading Up 0.4%

Shares of Tyra Biosciences stock opened at $12.52 on Friday. The company’s 50-day moving average price is $11.19 and its 200-day moving average price is $10.28. The company has a market cap of $667.32 million, a price-to-earnings ratio of -7.03 and a beta of 1.10. Tyra Biosciences has a 12-month low of $6.42 and a 12-month high of $29.60.

Tyra Biosciences (NASDAQ:TYRA) last announced its earnings results on Thursday, August 14th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.06. On average, sell-side analysts predict that Tyra Biosciences will post -1.57 earnings per share for the current year.

Insider Activity

In other news, Director Gilla Kaplan sold 9,568 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $9.78, for a total value of $93,575.04. Following the transaction, the director owned 28,231 shares in the company, valued at approximately $276,099.18. This trade represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 16,392 shares of company stock valued at $164,408 in the last quarter. 15.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of Tyra Biosciences in the fourth quarter worth approximately $60,000. Two Sigma Advisers LP bought a new position in shares of Tyra Biosciences in the fourth quarter worth approximately $171,000. Deutsche Bank AG grew its holdings in shares of Tyra Biosciences by 52.0% in the fourth quarter. Deutsche Bank AG now owns 18,909 shares of the company’s stock worth $263,000 after purchasing an additional 6,466 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Tyra Biosciences by 21.7% in the fourth quarter. Bank of America Corp DE now owns 66,157 shares of the company’s stock worth $920,000 after purchasing an additional 11,804 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings 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 purchasing an additional 3,550 shares during the last quarter. Institutional investors own 84.14% of the company’s stock.

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.