Tyra Biosciences price target lowered to $29 from $31 at BofA

BofA lowered the firm’s price target on Tyra Biosciences (TYRA) to $29 from $31 and keeps a Buy rating on the shares. Tyra had “an uneventful” Q3 update, which is “unlikely to reverse sentiment that has weighed on the story of late,” the analyst tells investors. While the firm understands the broader safety concerns, it maintains its view that FDA’s approval of the IND for pediatric achondroplasia was “a clear signal of support for the lower doses,” the analyst tells investors. The firm continues to see reasons to like the story with recent weakness “offering a particularly compelling entry point,” the analyst added.