Tyra Biosciences (NASDAQ:TYRA) Stock Price Expected to Rise, Wedbush Analyst Says

Tyra Biosciences (NASDAQ:TYRA) had its price target lifted by research analysts at Wedbush from $37.00 to $53.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 89.35% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, January 21st. Jefferies Financial Group boosted their price target on shares of Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. William Blair began coverage on shares of Tyra Biosciences in a report on Tuesday. They set an “outperform” rating on the stock. Wall Street Zen cut shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. Finally, Barclays started coverage on shares of Tyra Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.83.

Tyra Biosciences Price Performance

Shares of TYRA opened at $27.99 on Friday. Tyra Biosciences has a one year low of $6.42 and a one year high of $33.99. The company has a market cap of $1.49 billion, a PE ratio of -14.97 and a beta of 1.07. The stock has a 50-day moving average of $27.66 and a 200-day moving average of $18.91.

Insider Buying and Selling

In other Tyra Biosciences news, Director Robert J. More sold 10,000 shares of Tyra Biosciences stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the director owned 3,823,425 shares of the company’s stock, valued at $95,585,625. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.20% of the company’s stock.

Institutional Trading of Tyra Biosciences

A number of hedge funds have recently bought and sold shares of the business. Commodore Capital LP grew its stake in Tyra Biosciences by 226.3% in the 2nd quarter. Commodore Capital LP now owns 3,100,000 shares of the company’s stock valued at $29,667,000 after purchasing an additional 2,150,000 shares during the period. Caligan Partners LP boosted its holdings in shares of Tyra Biosciences by 266.8% in the 3rd quarter. Caligan Partners LP now owns 696,825 shares of the company’s stock worth $9,749,000 after buying an additional 506,875 shares during the last quarter. Sio Capital Management LLC boosted its holdings in shares of 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 buying an additional 393,657 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Tyra Biosciences by 139.8% during the second quarter. Balyasny Asset Management L.P. now owns 583,386 shares of the company’s stock valued at $5,583,000 after buying an additional 340,142 shares during the period. Finally, State Street Corp increased its holdings in Tyra Biosciences by 74.9% during the fourth quarter. State Street Corp now owns 749,463 shares of the company’s stock worth $19,703,000 after buying an additional 320,991 shares during the last quarter. 84.14% of the stock is currently 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.