Tyra Biosciences (NASDAQ:TYRA) Shares Down 4.1% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price traded down 4.1% during trading on Thursday . The company traded as low as $15.75 and last traded at $16.05. 7,439 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 292,863 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TYRA. UBS Group started coverage on Tyra Biosciences in a research report on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Monday, January 13th. Wedbush restated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a report on Friday, October 25th. Finally, Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $31.00 in a report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $30.50.

Tyra Biosciences Stock Up 0.2 %

The stock’s 50 day moving average price is $15.38 and its 200-day moving average price is $19.17. The stock has a market capitalization of $819.21 million, a PE ratio of -10.06 and a beta of 1.04.

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

Insider Buying and Selling

In related news, CEO Todd Harris sold 19,084 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $27.90, for a total value of $532,443.60. Following the completion of the sale, the chief executive officer now directly owns 1,355,927 shares of the company’s stock, valued at $37,830,363.30. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nina S. Kjellson sold 11,078 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.17, for a total transaction of $179,131.26. Following the transaction, the director now owns 472,207 shares in the company, valued at approximately $7,635,587.19. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,731 shares of company stock valued at $1,185,162 over the last quarter. 15.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Tyra Biosciences by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company’s stock valued at $8,667,000 after acquiring an additional 3,896 shares in the last quarter. Franklin Resources Inc. bought a new stake in Tyra Biosciences during the third quarter valued at about $278,000. Barclays PLC grew its stake in Tyra Biosciences by 200.5% in the third quarter. Barclays PLC now owns 37,625 shares of the company’s stock valued at $884,000 after purchasing an additional 25,106 shares during the last quarter. State Street Corp grew its stake in Tyra Biosciences by 4.4% in the third quarter. State Street Corp now owns 384,732 shares of the company’s stock valued at $9,045,000 after purchasing an additional 16,248 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in Tyra Biosciences in the third quarter worth about $2,071,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.