UBS Group Initiates Coverage on Tyra Biosciences (NASDAQ:TYRA)

Investment analysts at UBS Group began coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $28.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 75.33% from the stock’s previous close.

TYRA has been the topic of a number of other research reports. Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research note on Friday, October 25th. HC Wainwright reduced their price objective on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $31.00 in a report on Friday, October 18th. Finally, Oppenheimer raised their price target on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $30.50.

Tyra Biosciences Trading Up 0.1 %

TYRA stock opened at $15.97 on Tuesday. The company has a market cap of $808.13 million, a price-to-earnings ratio of -9.92 and a beta of 1.04. Tyra Biosciences has a 12-month low of $11.32 and a 12-month high of $29.60. The firm has a 50 day moving average of $15.48 and a 200-day moving average of $19.24.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Sell-side analysts forecast that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Tyra Biosciences

In related news, CFO Alan Fuhrman bought 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the acquisition, the chief financial officer now directly owns 12,849 shares of the company’s stock, valued at $205,584. The trade was a 283.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nina S. Kjellson sold 27,493 shares of Tyra Biosciences stock in a transaction on Friday, November 1st. The shares were sold at an average price of $16.56, for a total value of $455,284.08. Following the transaction, the director now owns 458,506 shares in the company, valued at $7,592,859.36. This represents a 5.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,160 shares of company stock worth $1,827,047 in the last 90 days. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

A number of hedge funds have recently added to or reduced their stakes in TYRA. American Century Companies Inc. grew its position in Tyra Biosciences by 582.9% in the second quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after acquiring an additional 145,346 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in Tyra Biosciences by 50.5% in the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after purchasing an additional 338,208 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Tyra Biosciences during the third quarter worth $24,994,000. Ensign Peak Advisors Inc bought a new position in Tyra Biosciences during the second quarter valued at about $3,047,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tyra Biosciences in the third quarter worth about $593,000. Institutional investors and hedge funds 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.