JonesTrading Initiates Coverage on Tyra Biosciences (NASDAQ:TYRA)

Investment analysts at JonesTrading initiated coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $56.00 price target on the stock. JonesTrading’s target price would indicate a potential upside of 93.17% from the company’s current price.

TYRA has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Tyra Biosciences in a report on Thursday, May 14th. Guggenheim assumed coverage on Tyra Biosciences in a report on Tuesday, April 14th. They set a “buy” rating and a $54.00 price target on the stock. Cantor Fitzgerald started coverage on Tyra Biosciences in a report on Tuesday, February 24th. They issued an “overweight” rating on the stock. Canaccord Genuity Group started coverage on Tyra Biosciences in a research note on Monday, April 6th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Wolfe Research began coverage on shares of Tyra Biosciences in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Tyra Biosciences Trading Up 2.8%

NASDAQ TYRA traded up $0.78 on Wednesday, reaching $28.99. The stock had a trading volume of 24,498 shares, compared to its average volume of 938,962. Tyra Biosciences has a 1 year low of $8.98 and a 1 year high of $40.65. The business has a 50 day moving average price of $33.23 and a 200 day moving average price of $31.15. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -13.30 and a beta of 0.75.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.04). On average, analysts anticipate that Tyra Biosciences will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyra Biosciences

In other news, Director Gilla Kaplan sold 14,295 shares of the stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $36.97, for a total transaction of $528,486.15. Following the transaction, the director owned 28,231 shares of the company’s stock, valued at approximately $1,043,700.07. This represents a 33.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new stake in Tyra Biosciences during the 1st quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Tyra Biosciences in the fourth quarter valued at approximately $51,000. Chung Wu Investment Group LLC purchased a new position in shares of Tyra Biosciences during the 4th quarter worth $53,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tyra Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after acquiring an additional 534 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Tyra Biosciences in the first quarter valued at approximately $276,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.