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

Tyra Biosciences (NASDAQ:TYRA) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm currently has a $31.00 target price on the stock, up from their prior target price of $22.00. Bank of America‘s target price suggests a potential upside of 19.32% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Oppenheimer increased their price target on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a report on Thursday, August 8th. 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. Finally, 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 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tyra Biosciences has a consensus rating of “Buy” and an average price target of $31.00.

Tyra Biosciences Trading Up 0.3 %

NASDAQ TYRA opened at $25.98 on Friday. Tyra Biosciences has a 12 month low of $10.38 and a 12 month high of $27.17. The stock’s fifty day moving average price is $22.18 and its 200-day moving average price is $19.42. The stock has a market cap of $1.37 billion, a P/E ratio of -15.37 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last announced 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. As a group, analysts forecast that Tyra Biosciences will post -1.53 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Todd Harris sold 10,092 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total value of $243,519.96. Following the transaction, the chief executive officer now owns 1,479,528 shares of the company’s stock, valued at approximately $35,701,010.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 42,319 shares of company stock valued at $1,050,330 in the last quarter. 15.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

A number of institutional investors have recently bought and sold shares of TYRA. SG Americas Securities LLC purchased a new position in Tyra Biosciences during the third quarter valued at approximately $311,000. HighVista Strategies LLC bought a new position in Tyra Biosciences in the 2nd quarter worth $257,000. Rhumbline Advisers increased its stake in Tyra Biosciences by 12.3% in the 2nd quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after buying an additional 2,574 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 acquiring an additional 14,352 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Tyra Biosciences in the first quarter valued at about $977,000. 84.14% of the stock is owned by institutional investors.

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.