Zacks Investment Research Lowers Tyra Biosciences (NASDAQ:TYRA) to Sell

Zacks Investment Research cut shares of Tyra Biosciences (NASDAQ:TYRAGet Rating) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Tyra Biosciences Inc. is a precision oncology company. It focused on developing purpose-built therapies to overcome tumor resistance and improve outcomes for patients with cancer. The company’s lead product candidate includes TYRA-300. Tyra Biosciences Inc. is based in CARLSBAD, Calif. “

Separately, Jefferies Financial Group raised shares of Tyra Biosciences from a hold rating to a buy rating and cut their price objective for the company from $31.00 to $27.00 in a report on Tuesday, March 8th.

Shares of TYRA opened at $9.46 on Wednesday. Tyra Biosciences has a 1 year low of $6.25 and a 1 year high of $31.36. The stock has a 50-day simple moving average of $9.60 and a 200-day simple moving average of $13.56.

Tyra Biosciences (NASDAQ:TYRAGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). As a group, sell-side analysts expect that Tyra Biosciences will post -1.3 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. acquired a new stake in shares of Tyra Biosciences in the third quarter valued at about $127,289,000. Boxer Capital LLC grew its position in shares of Tyra Biosciences by 2.0% in the fourth quarter. Boxer Capital LLC now owns 6,448,359 shares of the company’s stock valued at $90,728,000 after purchasing an additional 125,000 shares during the period. Canaan Partners XI LLC acquired a new stake in shares of Tyra Biosciences in the fourth quarter valued at about $62,049,000. Nextech Invest AG acquired a new stake in shares of Tyra Biosciences in the fourth quarter valued at about $35,436,000. Finally, BVF Inc. IL acquired a new stake in shares of Tyra Biosciences in the third quarter valued at about $29,814,000. Institutional investors and hedge funds own 99.96% of the company’s stock.

About Tyra Biosciences (Get Rating)

Tyra Biosciences, Inc, a preclinical-stage biopharmaceutical company, focuses on developing therapies to overcome tumor resistance and enhance outcomes for patients with cancer. Its lead product candidate is TYRA-300, a selective inhibitor of fibroblast growth factor receptor (FGFR)3 for the treatment of muscle invasive bladder cancer.

Further Reading

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