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

Analysts at UBS Group began coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a research report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $28.00 price target on the stock. UBS Group’s price target indicates a potential upside of 74.35% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Oppenheimer lifted their target price 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. HC Wainwright cut their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research report on Friday, October 25th. Finally, Bank of America raised shares of 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 research report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $30.50.

Tyra Biosciences Stock Performance

TYRA stock opened at $16.06 on Tuesday. Tyra Biosciences has a 52-week low of $11.32 and a 52-week high of $29.60. The firm has a market capitalization of $812.68 million, a price-to-earnings ratio of -9.98 and a beta of 1.04. The firm has a 50 day moving average price of $15.50 and a 200-day moving average price of $19.25.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Tyra Biosciences by 0.8% during the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company’s stock valued at $79,296,000 after purchasing an additional 26,187 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Tyra Biosciences in the 3rd quarter valued at about $24,994,000. Perceptive Advisors LLC lifted its holdings in shares of Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after acquiring an additional 338,208 shares during the last quarter. State Street Corp lifted its holdings in shares of Tyra Biosciences by 4.4% in the 3rd quarter. State Street Corp now owns 384,732 shares of the company’s stock valued at $9,045,000 after acquiring an additional 16,248 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tyra Biosciences by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company’s stock valued at $8,667,000 after acquiring an additional 3,896 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.