Tyra Biosciences (NASDAQ:TYRA) Coverage Initiated at Guggenheim

Guggenheim assumed coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating on the stock.

TYRA has been the subject of a number of other research reports. William Blair assumed coverage on Tyra Biosciences in a research note on Tuesday, February 10th. They issued an “outperform” rating for the company. Canaccord Genuity Group started coverage on Tyra Biosciences in a research report on Monday, April 6th. They set a “buy” rating and a $50.00 target price on the stock. Piper Sandler increased their target price on Tyra Biosciences from $42.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Jefferies Financial Group lifted their price target on shares of Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Finally, Wedbush boosted their price target on shares of Tyra Biosciences from $37.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tyra Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Tyra Biosciences Price Performance

TYRA stock opened at $34.97 on Tuesday. The company’s 50-day moving average is $34.58 and its 200-day moving average is $26.00. The stock has a market capitalization of $1.88 billion, a PE ratio of -17.40 and a beta of 0.96. Tyra Biosciences has a 1 year low of $7.80 and a 1 year high of $40.65.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Monday, March 2nd. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.03). On average, analysts anticipate that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gilla Kaplan sold 14,295 shares of Tyra Biosciences stock in a transaction that occurred 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 $1,043,700.07. The trade was a 33.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several large investors have recently bought and sold shares of TYRA. Millennium Management LLC grew its stake in shares of Tyra Biosciences by 28.2% in the 1st quarter. Millennium Management LLC now owns 404,165 shares of the company’s stock worth $3,759,000 after acquiring an additional 89,024 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Tyra Biosciences by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock valued at $725,000 after purchasing an additional 13,896 shares during the last quarter. Woodline Partners LP bought a new position in shares of Tyra Biosciences during the first quarter valued at about $931,000. Jane Street Group LLC purchased a new position in Tyra Biosciences during the first quarter worth about $324,000. Finally, Geode Capital Management LLC boosted its holdings in Tyra Biosciences by 9.8% during the second quarter. Geode Capital Management LLC now owns 567,126 shares of the company’s stock worth $5,428,000 after purchasing an additional 50,836 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors.

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.