Tyra Biosciences (NASDAQ:TYRA) Price Target Raised to $42.00

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

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

Tyra Biosciences Stock Down 1.7%

Shares of NASDAQ:TYRA opened at $30.37 on Friday. The business’s 50 day moving average is $24.66 and its 200 day moving average is $16.87. Tyra Biosciences has a 12-month low of $6.42 and a 12-month high of $31.56. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -16.24 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). As a group, equities research analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current year.

Insider Activity at Tyra Biosciences

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

Hedge Funds Weigh In On Tyra Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its stake in shares of Tyra Biosciences by 586.3% during the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock valued at $30,000 after buying an additional 1,841 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after acquiring an additional 1,668 shares during the period. SG Americas Securities LLC bought a new stake in Tyra Biosciences during the 3rd quarter valued at $133,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Tyra Biosciences during the second quarter worth $177,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Tyra Biosciences by 27.7% during the third quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock worth $178,000 after acquiring an additional 2,766 shares in the last quarter. Institutional investors own 84.14% of the company’s stock.

About Tyra Biosciences

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.