Jefferies Financial Group Forecasts Strong Price Appreciation for Tyra Biosciences (NASDAQ:TYRA) Stock

Tyra Biosciences (NASDAQ:TYRA) had its price target boosted by equities research analysts at Jefferies Financial Group from $32.00 to $43.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 38.62% from the stock’s previous close.

Several other equities research analysts have also weighed in on TYRA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Wednesday, January 21st. Wall Street Zen cut Tyra Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 24th. Barclays began coverage on Tyra Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating for the company. Piper Sandler raised their target price on Tyra Biosciences from $33.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Finally, Wedbush boosted their price target on shares of Tyra Biosciences from $30.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.17.

Tyra Biosciences Trading Up 0.6%

NASDAQ TYRA opened at $31.02 on Tuesday. The company’s fifty day simple moving average is $26.13 and its 200-day simple moving average is $17.74. The stock has a market cap of $1.66 billion, a P/E ratio of -16.59 and a beta of 1.07. Tyra Biosciences has a 52 week low of $6.42 and a 52 week high of $32.44.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). On average, research analysts expect that Tyra Biosciences will post -1.57 EPS for the current fiscal year.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, Director Robert J. More sold 246,871 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $20.25, for a total value of $4,999,137.75. Following the sale, the director directly owned 3,833,425 shares in the company, valued at approximately $77,626,856.25. The trade was a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently made changes to their positions in TYRA. Chung Wu Investment Group LLC acquired a new position in Tyra Biosciences in the fourth quarter worth approximately $53,000. Federated Hermes Inc. raised its position in shares of Tyra Biosciences by 586.3% during the third quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock worth $30,000 after purchasing an additional 1,841 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted 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 purchasing an additional 534 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Tyra Biosciences during the third quarter valued at $133,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Tyra Biosciences by 27.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock valued at $178,000 after purchasing an additional 2,766 shares during the period. Institutional investors and hedge funds own 84.14% of the company’s stock.

About Tyra Biosciences

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.