Bank of America Upgrades Tyra Biosciences (NASDAQ:TYRA) to Buy

Tyra Biosciences (NASDAQ:TYRA) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat reports. The brokerage presently has a $31.00 price objective on the stock, up from their previous price objective of $22.00. Bank of America‘s price target would suggest a potential upside of 19.32% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Piper Sandler started coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research report on Thursday, August 8th. Oppenheimer upped their price target 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. Finally, HC Wainwright lifted their price objective on Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Tyra Biosciences currently has an average rating of “Buy” and a consensus price target of $31.00.

Tyra Biosciences Price Performance

Shares of NASDAQ:TYRA opened at $25.98 on Friday. Tyra Biosciences has a one year low of $10.38 and a one year high of $27.17. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -15.37 and a beta of 1.01. The company’s fifty day moving average price is $22.18 and its 200-day moving average price is $19.42.

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

Insider Transactions at Tyra Biosciences

In related news, CEO Todd Harris sold 15,394 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $25.85, for a total transaction of $397,934.90. Following the transaction, the chief executive officer now owns 1,418,647 shares in the company, valued at $36,672,024.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 42,319 shares of company stock worth $1,050,330. Company insiders own 15.40% of the company’s stock.

Institutional Trading of Tyra Biosciences

Several large investors have recently added to or reduced their stakes in TYRA. Wellington Management Group LLP raised its holdings in Tyra Biosciences by 8.8% in the 4th quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after purchasing an additional 8,324 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Tyra Biosciences in the first quarter worth $977,000. Vanguard Group Inc. boosted its holdings in shares of Tyra Biosciences by 18.6% during the 1st quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after buying an additional 140,833 shares in the last quarter. BVF Inc. IL grew its position 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 during the period. Finally, Kynam Capital Management LP increased its stake 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 acquiring an additional 175,000 shares in 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.