Piper Sandler Forecasts Strong Price Appreciation for Tyra Biosciences (NASDAQ:TYRA) Stock

Tyra Biosciences (NASDAQ:TYRA) had its target price upped by equities researchers at Piper Sandler from $33.00 to $42.00 in a report issued on Friday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 38.29% from the stock’s previous close.

TYRA has been the subject of several other reports. Wall Street Zen upgraded shares of Tyra Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Wednesday. Finally, Wedbush lifted their price target on Tyra Biosciences from $30.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Tyra Biosciences Stock Performance

TYRA opened at $30.37 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of -16.24 and a beta of 1.07. Tyra Biosciences has a 52-week low of $6.42 and a 52-week high of $31.56. The company’s 50-day simple moving average is $24.66 and its two-hundred day simple moving average is $16.82.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). Research analysts forecast that Tyra Biosciences will post -1.57 EPS for the current fiscal year.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, Director Robert J. More sold 246,871 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $20.25, for a total value of $4,999,137.75. Following the sale, the director directly owned 3,833,425 shares of the company’s stock, valued at approximately $77,626,856.25. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

A number of institutional investors have recently modified their holdings of TYRA. Commodore Capital LP boosted its stake in shares of Tyra Biosciences by 8.9% in the third 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 last quarter. Vanguard Group Inc. lifted its holdings in Tyra Biosciences by 8.5% in the third quarter. Vanguard Group Inc. now owns 1,520,185 shares of the company’s stock valued at $21,267,000 after acquiring an additional 118,492 shares during the period. Balyasny Asset Management L.P. boosted its position in Tyra Biosciences by 45.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 846,585 shares of the company’s stock worth $11,844,000 after purchasing an additional 263,199 shares in the last quarter. Sio Capital Management LLC grew its stake in shares of Tyra Biosciences by 94.5% during the 2nd 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 period. Finally, Caligan Partners LP grew its stake in shares of Tyra Biosciences by 266.8% during the 3rd quarter. Caligan Partners LP now owns 696,825 shares of the company’s stock worth $9,749,000 after purchasing an additional 506,875 shares during the period. Hedge funds and other institutional investors own 84.14% of the company’s stock.

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.