Piper Sandler Increases Tyra Biosciences (NASDAQ:TYRA) Price Target to $56.00

Tyra Biosciences (NASDAQ:TYRA) had its price target raised by equities researchers at Piper Sandler from $42.00 to $56.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 50.74% from the stock’s current price.

A number of other research analysts have also weighed in on TYRA. Cantor Fitzgerald assumed coverage on Tyra Biosciences in a research note on Tuesday, February 24th. They set an “overweight” rating on the stock. Barclays assumed coverage on Tyra Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating for the company. William Blair began coverage on Tyra Biosciences in a research report on Tuesday, February 10th. They set an “outperform” rating on the stock. HC Wainwright raised their price target on Tyra Biosciences from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group lifted their price target on Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.67.

Tyra Biosciences Price Performance

NASDAQ:TYRA opened at $37.15 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of -18.48 and a beta of 1.06. The firm has a 50 day simple moving average of $32.11 and a 200-day simple moving average of $22.91. Tyra Biosciences has a 1-year low of $6.42 and a 1-year high of $39.15.

Tyra Biosciences (NASDAQ:TYRA) last announced its earnings results on Monday, March 2nd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.03). As a group, sell-side analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Tyra Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in TYRA. Commodore Capital LP raised its position in shares of Tyra Biosciences by 8.9% in the 3rd quarter. Commodore Capital LP now owns 3,375,000 shares of the company’s stock worth $47,216,000 after buying an additional 275,000 shares during the period. Janus Henderson Group PLC increased its stake in Tyra Biosciences by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 2,935,442 shares of the company’s stock worth $77,085,000 after acquiring an additional 60,638 shares during the last quarter. Farallon Capital Management LLC increased its stake in Tyra Biosciences by 80.7% during the fourth quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company’s stock worth $54,337,000 after acquiring an additional 923,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Tyra Biosciences by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,520,185 shares of the company’s stock worth $21,267,000 after purchasing an additional 118,492 shares during the period. Finally, 5AM Venture Management LLC lifted its stake in shares of Tyra Biosciences by 9.6% in the 4th quarter. 5AM Venture Management LLC now owns 1,029,298 shares of the company’s stock valued at $27,060,000 after purchasing an additional 90,000 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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.