UBS Group Initiates Coverage on Tyra Biosciences (NASDAQ:TYRA)

Analysts at UBS Group started coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $28.00 price target on the stock. UBS Group’s price target points to a potential upside of 74.35% from the stock’s previous close.

A number of other brokerages also recently issued reports on TYRA. Oppenheimer increased their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research report on Friday, October 25th. Finally, HC Wainwright lowered their price target on Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tyra Biosciences currently has a consensus rating of “Buy” and a consensus target price of $30.50.

Tyra Biosciences Price Performance

NASDAQ:TYRA opened at $16.06 on Tuesday. The company has a market cap of $812.68 million, a P/E ratio of -9.98 and a beta of 1.04. The stock’s fifty day moving average price is $15.50 and its two-hundred day moving average price is $19.25. Tyra Biosciences has a 1 year low of $11.32 and a 1 year high of $29.60.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 11,078 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.17, for a total value of $179,131.26. Following the sale, the director now directly owns 472,207 shares of the company’s stock, valued at $7,635,587.19. This trade represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Harris sold 15,394 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $25.85, for a total value of $397,934.90. Following the completion of the sale, the chief executive officer now directly owns 1,418,647 shares in the company, valued at $36,672,024.95. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,160 shares of company stock worth $1,827,047 over the last 90 days. Corporate insiders own 15.40% of the company’s stock.

Institutional Trading of Tyra Biosciences

Several large investors have recently modified their holdings of TYRA. Janus Henderson Group PLC bought a new stake in shares of Tyra Biosciences in the third quarter worth about $24,994,000. Perceptive Advisors LLC grew its stake in shares of Tyra Biosciences by 50.5% in the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after purchasing an additional 338,208 shares during the last quarter. Ally Bridge Group NY LLC bought a new stake in shares of Tyra Biosciences in the second quarter worth about $4,232,000. Ensign Peak Advisors Inc bought a new stake in shares of Tyra Biosciences in the second quarter worth about $3,047,000. Finally, American Century Companies Inc. grew its stake in shares of Tyra Biosciences by 582.9% in the second quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after purchasing an additional 145,346 shares during the last quarter. 84.14% of the stock is owned by institutional investors.

Tyra Biosciences Company Profile

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.