Tyra Biosciences (NASDAQ:TYRA) Shares Down 8.7%

Tyra Biosciences, Inc. (NASDAQ:TYRA) fell 8.7% during trading on Wednesday . The company traded as low as $19.66 and last traded at $19.68. 28,049 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 142,630 shares. The stock had previously closed at $21.55.

Analyst Ratings Changes

Several research firms recently issued reports on TYRA. Oppenheimer reiterated an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Wednesday, July 3rd. HC Wainwright reiterated a “buy” rating and issued a $23.00 price target on shares of Tyra Biosciences in a report on Wednesday, July 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Wednesday, July 3rd.

Tyra Biosciences Price Performance

The firm has a 50 day simple moving average of $17.90 and a two-hundred day simple moving average of $16.91. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -12.00 and a beta of 1.01.

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

Insider Buying and Selling at Tyra Biosciences

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

Institutional Investors Weigh In On Tyra Biosciences

Hedge funds have recently modified their holdings of the business. Federated Hermes Inc. raised its position in shares of Tyra Biosciences by 1,244.2% during the fourth quarter. Federated Hermes Inc. now owns 2,070 shares of the company’s stock worth $29,000 after purchasing an additional 1,916 shares during the period. AJOVista LLC acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth about $59,000. Exchange Traded Concepts LLC raised its position 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 worth $132,000 after purchasing an additional 2,417 shares during the period. Fishman Jay A Ltd. MI acquired a new stake in shares of Tyra Biosciences during the first quarter worth about $246,000. Finally, Victory Capital Management Inc. raised its position in shares of Tyra Biosciences by 53.4% during the fourth quarter. Victory Capital Management Inc. now owns 50,220 shares of the company’s stock worth $696,000 after purchasing an additional 17,490 shares during the period. Institutional investors and hedge funds own 84.14% of the company’s stock.

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.