Piper Sandler Begins Coverage on Tyra Biosciences (NASDAQ:TYRA)

Piper Sandler started coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a research note issued to investors on Wednesday, MarketBeat reports. The firm set an “overweight” rating and a $33.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 244.11% from the company’s current price.

A number of other research firms also recently weighed in on TYRA. Wedbush restated an “outperform” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research report on Friday, March 28th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Tyra Biosciences in a research report on Monday, March 31st. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $30.83.

Tyra Biosciences Price Performance

TYRA opened at $9.59 on Wednesday. The company has a market capitalization of $509.13 million, a price-to-earnings ratio of -5.96 and a beta of 1.17. Tyra Biosciences has a 1-year low of $6.42 and a 1-year high of $29.60. The business has a 50 day moving average price of $9.46 and a two-hundred day moving average price of $12.67.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.02. Equities analysts expect that Tyra Biosciences will post -1.57 EPS for the current fiscal year.

Institutional Trading of Tyra Biosciences

Several large investors have recently added to or reduced their stakes in TYRA. China Universal Asset Management Co. Ltd. acquired a new stake in Tyra Biosciences during the 4th quarter valued at $149,000. Rhumbline Advisers raised its stake in Tyra Biosciences by 4.1% during the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company’s stock valued at $364,000 after purchasing an additional 1,027 shares during the period. Bank of New York Mellon Corp raised its stake in Tyra Biosciences by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company’s stock valued at $626,000 after purchasing an additional 2,221 shares during the period. US Bancorp DE acquired a new stake in Tyra Biosciences during the 4th quarter valued at $50,000. Finally, Alta Partners Management Company L.P. acquired a new stake in Tyra Biosciences during the 4th quarter valued at $56,716,000. 84.14% of the stock is owned by institutional investors and hedge funds.

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.