Wedbush Reaffirms Outperform Rating for Tyra Biosciences (NASDAQ:TYRA)

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report released on Thursday,RTT News reports. They currently have a $30.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 109.50% from the stock’s current price.

A number of other research analysts also recently weighed in on TYRA. Raymond James Financial assumed 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 objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Wednesday, October 8th. Oppenheimer reiterated an “outperform” rating and set a $36.00 target price on shares of Tyra Biosciences in a research note on Wednesday, September 10th. Wall Street Zen upgraded Tyra Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Tyra Biosciences in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tyra Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Tyra Biosciences Stock Performance

NASDAQ TYRA opened at $14.32 on Thursday. Tyra Biosciences has a one year low of $6.42 and a one year high of $17.27. The stock has a 50-day moving average of $13.59 and a 200 day moving average of $11.45. The company has a market capitalization of $763.21 million, a price-to-earnings ratio of -7.66 and a beta of 1.12.

Tyra Biosciences (NASDAQ:TYRA) last posted its earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). On average, equities analysts predict that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commodore Capital LP lifted its position in Tyra Biosciences by 226.3% during the second 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 in the last quarter. Vestal Point Capital LP increased its holdings 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 acquiring an additional 1,889,829 shares in the last quarter. Vanguard Group Inc. raised its stake in Tyra Biosciences by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,520,185 shares of the company’s stock worth $21,267,000 after acquiring an additional 118,492 shares during the period. Sio Capital Management LLC raised its stake in Tyra Biosciences by 94.5% during the 2nd quarter. Sio Capital Management LLC now owns 810,274 shares of the company’s stock worth $7,754,000 after acquiring an additional 393,657 shares during the period. Finally, Balyasny Asset Management L.P. lifted its holdings 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 purchasing an additional 340,142 shares in the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

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.