Tyra Biosciences (NASDAQ:TYRA) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a research note released on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $50.00 target price on the stock.

Several other research firms have also recently weighed in on TYRA. Wedbush increased their price objective on shares of Tyra Biosciences from $37.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Wednesday, January 21st. Cantor Fitzgerald initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, February 24th. They set an “overweight” rating for the company. Jefferies Financial Group increased their price objective on shares of Tyra Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Finally, William Blair initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, February 10th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.43.

Tyra Biosciences Stock Down 1.7%

TYRA opened at $38.93 on Monday. Tyra Biosciences has a twelve month low of $6.42 and a twelve month high of $40.65. The company has a fifty day moving average of $33.90 and a 200-day moving average of $24.94. The stock has a market cap of $2.10 billion, a PE ratio of -19.37 and a beta of 0.96.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.03). Sell-side analysts anticipate that Tyra Biosciences will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gilla Kaplan sold 14,295 shares of the business’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $36.97, for a total value of $528,486.15. Following the completion of the sale, the director directly owned 28,231 shares of the company’s stock, valued at $1,043,700.07. The trade was a 33.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.20% of the stock is owned by insiders.

Institutional Trading of Tyra Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TYRA. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Tyra Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after buying an additional 534 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Tyra Biosciences by 2.0% during the fourth quarter. AQR Capital Management LLC now owns 28,631 shares of the company’s stock valued at $753,000 after buying an additional 562 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Tyra Biosciences by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 15,356 shares of the company’s stock valued at $404,000 after buying an additional 725 shares during the last quarter. Virtus Investment Advisers LLC grew its holdings in shares of Tyra Biosciences by 6.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock valued at $309,000 after buying an additional 741 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Tyra Biosciences by 5.8% during the fourth quarter. Deutsche Bank AG now owns 16,377 shares of the company’s stock valued at $431,000 after buying an additional 894 shares during the last quarter. 84.14% of the stock is owned by institutional investors.

Tyra Biosciences Company Profile

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.