Tyra Biosciences (NASDAQ:TYRA) Receives Outperform Rating from Wedbush

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “outperform” rating restated by Wedbush in a research note issued to investors on Thursday, Benzinga reports. They presently have a $53.00 target price on the stock. Wedbush’s price target indicates a potential upside of 140.80% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. JonesTrading began coverage on shares of Tyra Biosciences in a report on Wednesday, June 17th. They issued a “buy” rating and a $56.00 price objective for the company. Wolfe Research initiated coverage on Tyra Biosciences in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Bank of America lifted their target price on Tyra Biosciences from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Piper Sandler restated an “overweight” rating and issued a $56.00 price target on shares of Tyra Biosciences in a research note on Tuesday. Finally, Jefferies Financial Group restated a “buy” rating and set a $42.00 price objective on shares of Tyra Biosciences in a research report on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tyra Biosciences has a consensus rating of “Moderate Buy” and an average target price of $47.88.

Tyra Biosciences Stock Performance

NASDAQ:TYRA opened at $22.01 on Thursday. The firm has a market cap of $1.31 billion, a P/E ratio of -9.17 and a beta of 0.73. Tyra Biosciences has a fifty-two week low of $11.70 and a fifty-two week high of $40.65. The firm has a 50-day simple moving average of $28.70 and a two-hundred day simple moving average of $31.97.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Tuesday, August 4th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.04). On average, equities research analysts predict that Tyra Biosciences will post -2.74 EPS for the current year.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently bought and sold shares of TYRA. Hilton Head Capital Partners LLC purchased a new stake in Tyra Biosciences in the first quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tyra Biosciences during the 4th quarter valued at about $51,000. State of Wyoming bought a new position in shares of Tyra Biosciences during the 2nd quarter valued at approximately $76,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after acquiring an additional 1,668 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Tyra Biosciences by 27.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock worth $178,000 after acquiring an additional 2,766 shares in the last quarter. Institutional investors own 84.14% of the company’s stock.

More Tyra Biosciences News

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.