Tyra Biosciences (NASDAQ:TYRA) Trading Down 5% – What’s Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price was down 5% during mid-day trading on Friday . The company traded as low as $15.42 and last traded at $15.52. Approximately 12,852 shares changed hands during trading, a decline of 93% from the average daily volume of 190,734 shares. The stock had previously closed at $16.34.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $22.00 to $31.00 in a report on Friday, October 18th. Oppenheimer boosted their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. HC Wainwright cut their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler began coverage on Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research report on Friday, October 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $31.00.

Tyra Biosciences Trading Down 5.4 %

The company has a fifty day simple moving average of $21.51 and a 200-day simple moving average of $19.98.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, equities research analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity

In related news, CEO Todd Harris sold 5,698 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $24.31, for a total transaction of $138,518.38. Following the completion of the transaction, the chief executive officer now owns 1,496,729 shares in the company, valued at approximately $36,385,481.99. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nina S. Kjellson sold 11,078 shares of Tyra Biosciences stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.17, for a total transaction of $179,131.26. Following the completion of the sale, the director now owns 472,207 shares in the company, valued at approximately $7,635,587.19. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,050 shares of company stock worth $2,235,492 in the last three months. Company insiders own 15.40% of the company’s stock.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently modified their holdings of the company. HighVista Strategies LLC bought a new stake in Tyra Biosciences in the second quarter worth $257,000. Valence8 US LP bought a new stake in shares of Tyra Biosciences in the 3rd quarter worth about $310,000. SG Americas Securities LLC purchased a new stake in shares of Tyra Biosciences during the 3rd quarter valued at about $311,000. The Manufacturers Life Insurance Company bought a new position in shares of Tyra Biosciences in the 3rd quarter valued at about $333,000. Finally, Rhumbline Advisers grew its position in Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after acquiring an additional 2,574 shares in the last quarter. 84.14% of the stock is 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.