Tyra Biosciences (NASDAQ:TYRA) Raised to Buy at Bank of America

Bank of America upgraded shares of Tyra Biosciences (NASDAQ:TYRA) from a neutral rating to a buy rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $31.00 target price on the stock, up from their prior target price of $22.00.

TYRA has been the subject of a number of other research reports. Oppenheimer raised their target price on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Piper Sandler started coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 target price on the stock. HC Wainwright increased their price target on shares of Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Wedbush reissued an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research note on Thursday, August 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $31.00.

Tyra Biosciences Stock Up 5.2 %

NASDAQ:TYRA opened at $27.33 on Friday. The firm’s fifty day simple moving average is $22.32 and its 200 day simple moving average is $19.52. The stock has a market cap of $1.44 billion, a P/E ratio of -16.17 and a beta of 1.01. Tyra Biosciences has a twelve month low of $10.38 and a twelve month high of $27.55.

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

Insider Buying and Selling at Tyra Biosciences

In other news, CEO Todd Harris sold 15,394 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $25.85, for a total value of $397,934.90. Following the transaction, the chief executive officer now owns 1,418,647 shares in the company, valued at approximately $36,672,024.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 42,319 shares of company stock worth $1,050,330. 15.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several institutional investors have recently modified their holdings of the business. HighVista Strategies LLC bought a new stake in shares of Tyra Biosciences in the second quarter worth approximately $257,000. SG Americas Securities LLC purchased a new stake in Tyra Biosciences during the 3rd quarter valued at $311,000. Rhumbline Advisers lifted its holdings in shares of Tyra Biosciences by 12.3% during the 2nd quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after buying an additional 2,574 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Tyra Biosciences by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after buying an additional 14,352 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Tyra Biosciences in the 1st quarter worth $977,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.