Tyra Biosciences (NASDAQ:TYRA) Given New $42.00 Price Target at Piper Sandler

Tyra Biosciences (NASDAQ:TYRA) had its price objective hoisted by Piper Sandler from $33.00 to $42.00 in a research note released on Friday morning, MarketBeat reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on TYRA. Wall Street Zen raised Tyra Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. Wedbush upped their price objective on shares of Tyra Biosciences from $30.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Tyra Biosciences Trading Down 1.7%

Shares of NASDAQ TYRA opened at $30.37 on Friday. The firm has a market capitalization of $1.62 billion, a P/E ratio of -16.24 and a beta of 1.07. The firm’s 50-day moving average price is $24.66 and its 200-day moving average price is $16.77. Tyra Biosciences has a 1-year low of $6.42 and a 1-year high of $31.56.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Wednesday, November 5th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). Equities research analysts forecast that Tyra Biosciences will post -1.57 EPS for the current year.

Insider Activity

In other news, Director Robert J. More sold 10,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, the director owned 3,823,425 shares in the company, valued at $95,585,625. This represents a 0.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commodore Capital LP increased its stake in Tyra Biosciences by 226.3% in the 2nd quarter. Commodore Capital LP now owns 3,100,000 shares of the company’s stock valued at $29,667,000 after buying an additional 2,150,000 shares during the last quarter. Caligan Partners LP lifted its holdings in Tyra Biosciences by 266.8% during the third quarter. Caligan Partners LP now owns 696,825 shares of the company’s stock worth $9,749,000 after acquiring an additional 506,875 shares during the period. Sio Capital Management LLC boosted its position in Tyra Biosciences by 94.5% in the second quarter. Sio Capital Management LLC now owns 810,274 shares of the company’s stock worth $7,754,000 after purchasing an additional 393,657 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Tyra Biosciences by 139.8% in the second quarter. Balyasny Asset Management L.P. now owns 583,386 shares of the company’s stock worth $5,583,000 after purchasing an additional 340,142 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Tyra Biosciences by 346.6% in the 2nd quarter. Bank of America Corp DE now owns 372,967 shares of the company’s stock valued at $3,569,000 after purchasing an additional 289,446 shares during the period. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Company Profile

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.