Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives $30.50 Average Price Target from Analysts

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $30.50.

A number of research firms recently commented on TYRA. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Tuesday, February 18th. UBS Group started coverage on shares of Tyra Biosciences in a report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price on the stock.

Tyra Biosciences Stock Performance

Shares of TYRA stock opened at $9.66 on Friday. The stock has a fifty day simple moving average of $12.59 and a two-hundred day simple moving average of $16.45. Tyra Biosciences has a 52-week low of $9.49 and a 52-week high of $29.60. The firm has a market capitalization of $488.82 million, a PE ratio of -6.00 and a beta of 1.09.

Insider Activity

In other news, Director Nina S. Kjellson sold 7,779 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $16.29, for a total value of $126,719.91. Following the completion of the sale, the director now owns 447,857 shares in the company, valued at approximately $7,295,590.53. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 21,998 shares of company stock valued at $344,818 in the last ninety days. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently added to or reduced their stakes in TYRA. RA Capital Management L.P. boosted its position in shares of Tyra Biosciences by 2.1% during the fourth quarter. RA Capital Management L.P. now owns 10,637,290 shares of the company’s stock valued at $147,858,000 after buying an additional 220,681 shares during the period. Alta Partners Management Company L.P. purchased a new position in Tyra Biosciences during the 4th quarter valued at $56,716,000. FMR LLC grew its position in Tyra Biosciences by 0.8% in the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company’s stock valued at $79,296,000 after acquiring an additional 26,187 shares during the last quarter. Boxer Capital Management LLC purchased a new stake in Tyra Biosciences in the fourth quarter worth $28,185,000. Finally, Janus Henderson Group PLC lifted its position in shares of Tyra Biosciences by 63.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,746,320 shares of the company’s stock worth $24,291,000 after purchasing an additional 679,124 shares during the last quarter. 84.14% of the stock is currently owned by 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.