HC Wainwright Cuts Tyra Biosciences (NASDAQ:TYRA) Price Target to $30.00

Tyra Biosciences (NASDAQ:TYRA) had its target price dropped by investment analysts at HC Wainwright from $45.00 to $30.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 36.30% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $42.00 price target on shares of Tyra Biosciences in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Friday, July 17th. Wolfe Research began coverage on shares of Tyra Biosciences in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Bank of America raised their target price on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, Piper Sandler reiterated an “overweight” rating and set a $56.00 price target on shares of Tyra Biosciences in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.88.

Tyra Biosciences Stock Down 17.7%

Tyra Biosciences stock opened at $22.01 on Thursday. The firm has a market cap of $1.31 billion, a PE ratio of -9.17 and a beta of 0.73. Tyra Biosciences has a 52-week low of $11.70 and a 52-week high of $40.65. The company’s 50 day moving average is $28.70 and its two-hundred day moving average is $31.97.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). On average, equities research analysts anticipate that Tyra Biosciences will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of Tyra Biosciences

Several institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings 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 valued at $3,759,000 after buying an additional 89,024 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Tyra Biosciences by 21.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock valued at $725,000 after buying an additional 13,896 shares during the last quarter. Woodline Partners LP acquired a new stake in Tyra Biosciences during the 1st quarter worth $931,000. Jane Street Group LLC acquired a new stake in Tyra Biosciences during the 1st quarter worth $324,000. Finally, Geode Capital Management LLC lifted its position in Tyra Biosciences by 9.8% in the second quarter. Geode Capital Management LLC now owns 567,126 shares of the company’s stock valued at $5,428,000 after acquiring an additional 50,836 shares during the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Tyra Biosciences News Roundup

Here are the key news stories impacting Tyra Biosciences this week:

• Positive Sentiment: Tyra said the SURF302 study supported selection of a 60 mg once-daily dose and provided a basis for advancing dabogratinib into planned registrational studies. The company continues to pursue what it describes as a potential oral innovation for LG IR NMIBC. Tyra Biosciences Reports Initial Phase 2 SURF302 Results
• Positive Sentiment: Despite the market’s reaction, Tyra plans to continue toward pivotal development, preserving a potential future catalyst if larger studies demonstrate stronger efficacy and tolerability. Tyra Rolls Toward Pivotal Bladder Cancer Study
• Neutral Sentiment: Tyra also held a virtual fireside chat and investor meetings at the Cantor Global Healthcare Conference, providing an opportunity to explain the trial results and development strategy. Tyra Biosciences to Present at the Cantor Global Healthcare Conference
• Negative Sentiment: Investors were disappointed that the mid-stage bladder-cancer data did not clearly meet elevated expectations, particularly when compared with competing treatment approaches such as Johnson & Johnson’s Balversa. The reaction reflects uncertainty over whether dabogratinib can deliver a sufficiently differentiated benefit in later-stage testing. Tyra Disappoints Investors With Bladder Cancer Data
• Negative Sentiment: Reports also highlighted adverse events in some patients, adding safety concerns to the efficacy disappointment and contributing to the sharp decline in TYRA shares. Tyra Biosciences Shares Sink After Bladder-Cancer Treatment Causes Adverse Events

About Tyra Biosciences

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.