Tyra Biosciences (NASDAQ:TYRA) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Tyra Biosciences (NASDAQ:TYRA) from a neutral rating to a buy rating in a research note released on Friday morning, Marketbeat Ratings reports. They currently have $31.00 target price on the stock, up from their prior target price of $22.00.

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

Tyra Biosciences Stock Up 5.2 %

Shares of Tyra Biosciences stock opened at $27.33 on Friday. Tyra Biosciences has a twelve month low of $10.38 and a twelve month high of $27.55. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -16.17 and a beta of 1.01. The company’s 50 day moving average is $22.32 and its 200 day moving average is $19.49.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. Sell-side analysts expect that Tyra Biosciences will post -1.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tyra Biosciences news, CEO Todd Harris sold 15,394 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $25.85, for a total value 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 $36,672,024.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 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

Large investors have recently made changes to their positions in the business. HighVista Strategies LLC bought a new stake in Tyra Biosciences during the 2nd quarter valued at approximately $257,000. SG Americas Securities LLC purchased a new stake in Tyra Biosciences during the 3rd quarter valued at approximately $311,000. Rhumbline Advisers raised its position in shares of Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after buying an additional 2,574 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after buying an additional 14,352 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Tyra Biosciences in the first quarter worth $977,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

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.