Tyra Biosciences (NASDAQ:TYRA) Rating Increased to Buy at Bank of America

Tyra Biosciences (NASDAQ:TYRA) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat reports. The firm currently has a $31.00 target price on the stock, up from their previous target price of $22.00. Bank of America‘s price target would suggest a potential upside of 13.43% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Piper Sandler started coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 target price for the company. Oppenheimer raised their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. HC Wainwright upped their target price on shares of Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Thursday, August 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $31.00.

Tyra Biosciences Price Performance

Shares of Tyra Biosciences stock opened at $27.33 on Friday. Tyra Biosciences has a 1 year low of $10.38 and a 1 year high of $27.55. The company has a 50 day simple moving average of $22.32 and a two-hundred day simple moving average of $19.51. The firm has a market cap of $1.44 billion, a PE ratio of -16.27 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. As a group, research analysts anticipate that Tyra Biosciences will post -1.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Todd Harris sold 15,394 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $25.85, for a total transaction of $397,934.90. Following the completion of the transaction, the chief executive officer now directly owns 1,418,647 shares in the company, valued at approximately $36,672,024.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 42,319 shares of company stock worth $1,050,330. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

A number of hedge funds have recently made changes to their positions in TYRA. Wellington Management Group LLP boosted its stake in Tyra Biosciences by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock valued at $1,419,000 after buying an additional 8,324 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Tyra Biosciences during the first quarter valued at $977,000. Vanguard Group Inc. lifted its position in Tyra Biosciences by 18.6% during the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after purchasing an additional 140,833 shares during the last quarter. BVF Inc. IL grew its stake in shares of Tyra Biosciences by 70.1% in the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after buying an additional 1,921,599 shares in the last quarter. Finally, Kynam Capital Management LP increased its holdings in shares of Tyra Biosciences by 51.4% in the 1st quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock worth $8,449,000 after buying an additional 175,000 shares during the last quarter. Institutional investors own 84.14% of the company’s stock.

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.