Tyra Biosciences (NASDAQ:TYRA) Trading Down 3.3%

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) dropped 3.3% during trading on Wednesday . The stock traded as low as $19.42 and last traded at $19.55. Approximately 67,343 shares traded hands during trading, a decline of 49% from the average daily volume of 133,029 shares. The stock had previously closed at $20.22.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TYRA. Wedbush reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a research note on Friday, May 10th. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Tyra Biosciences in a research report on Wednesday, June 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Tyra Biosciences in a report on Monday, May 13th.

Tyra Biosciences Stock Performance

The firm has a market cap of $1.01 billion, a PE ratio of -12.04 and a beta of 1.03. The company’s 50-day simple moving average is $17.19 and its two-hundred day simple moving average is $16.09.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.11. On average, analysts expect that Tyra Biosciences, Inc. will post -1.71 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Tyra Biosciences

A number of institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in shares of Tyra Biosciences by 1,244.2% in the 4th quarter. Federated Hermes Inc. now owns 2,070 shares of the company’s stock worth $29,000 after acquiring an additional 1,916 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Tyra Biosciences in the fourth quarter worth $59,000. Exchange Traded Concepts LLC increased its holdings in shares of Tyra Biosciences by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,531 shares of the company’s stock valued at $132,000 after acquiring an additional 2,417 shares in the last quarter. Corton Capital Inc. purchased a new position in shares of Tyra Biosciences in the 3rd quarter worth about $152,000. Finally, Fishman Jay A Ltd. MI purchased a new stake in Tyra Biosciences during the 1st quarter valued at about $246,000. Institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

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.