Tyra Biosciences (NASDAQ:TYRA) Hits New 12-Month High After Analyst Upgrade

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price reached a new 52-week high during trading on Thursday after Oppenheimer raised their price target on the stock from $25.00 to $33.00. Oppenheimer currently has an outperform rating on the stock. Tyra Biosciences traded as high as $24.94 and last traded at $23.98, with a volume of 30912 shares. The stock had previously closed at $23.20.

Other analysts also recently issued reports about the stock. Piper Sandler started coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $23.00 target price on shares of Tyra Biosciences in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.40.

Institutional Investors Weigh In On Tyra Biosciences

Hedge funds have recently modified their holdings of the company. RA Capital Management L.P. grew its holdings in Tyra Biosciences by 43.9% in the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after purchasing an additional 3,180,155 shares during the period. BVF Inc. IL grew its stake in Tyra Biosciences by 70.1% in the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock valued at $76,444,000 after acquiring an additional 1,921,599 shares during the period. Perceptive Advisors LLC increased its holdings in Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after acquiring an additional 338,208 shares in the last quarter. Vanguard Group Inc. raised its position in Tyra Biosciences by 18.6% during the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after acquiring an additional 140,833 shares during the period. Finally, Kynam Capital Management LP lifted its holdings in Tyra Biosciences by 51.4% during the first quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock valued at $8,449,000 after purchasing an additional 175,000 shares in the last quarter. 84.14% of the stock is owned by hedge funds and other institutional investors.

Tyra Biosciences Stock Up 3.4 %

The company’s 50-day moving average price is $21.10 and its 200-day moving average price is $18.66. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -13.81 and a beta of 1.01.

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

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.