Tyra Biosciences (NASDAQ:TYRA) Receives New Coverage from Analysts at Piper Sandler

Piper Sandler started coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a report issued on Thursday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $33.00 target price on the stock.

TYRA has been the subject of a number of other research reports. HC Wainwright restated a buy rating and set a $23.00 target price on shares of Tyra Biosciences in a report on Wednesday, July 3rd. Wedbush reaffirmed an outperform rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Thursday, August 8th. Finally, Oppenheimer reduced their target price on shares of Tyra Biosciences from $28.00 to $25.00 and set an outperform rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyra Biosciences presently has a consensus rating of Moderate Buy and an average price target of $24.80.

Tyra Biosciences Stock Down 1.2 %

TYRA opened at $21.74 on Thursday. The stock’s fifty day moving average is $19.23 and its two-hundred day moving average is $18.14. The company has a market capitalization of $1.14 billion, a P/E ratio of -12.94 and a beta of 1.02. Tyra Biosciences has a 52 week low of $10.38 and a 52 week high of $24.25.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. Equities analysts anticipate that Tyra Biosciences will post -1.52 earnings per share for the current year.

Insider Buying and Selling at Tyra Biosciences

In other news, COO Daniel Bensen sold 3,502 shares of Tyra Biosciences stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $70,040.00. Following the completion of the sale, the chief operating officer now directly owns 427,981 shares in the company, valued at $8,559,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 15.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TYRA. RA Capital Management L.P. boosted its holdings in shares of Tyra Biosciences by 43.9% in the 1st quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after acquiring an additional 3,180,155 shares during the last quarter. BVF Inc. IL grew its position in Tyra Biosciences by 70.1% during the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after purchasing an additional 1,921,599 shares during the period. Kynam Capital Management LP purchased a new position in shares of Tyra Biosciences during the 4th quarter valued at about $4,712,000. Perceptive Advisors LLC lifted its holdings in shares of Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after buying an additional 338,208 shares during the period. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Tyra Biosciences in the second quarter worth about $4,232,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

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.