Tyra Biosciences (NASDAQ:TYRA) Trading Down 4.3% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price traded down 4.3% during trading on Monday . The stock traded as low as $13.40 and last traded at $13.40. 18,231 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 195,778 shares. The stock had previously closed at $14.00.

Analysts Set New Price Targets

TYRA has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $28.00 target price on shares of Tyra Biosciences in a research report on Friday, October 25th. Oppenheimer raised their price target on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, HC Wainwright dropped their price objective on Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a report on Monday, November 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $31.00.

Tyra Biosciences Stock Down 1.1 %

The company has a market capitalization of $713.00 million, a price-to-earnings ratio of -8.75 and a beta of 1.01. The company’s fifty day simple moving average is $17.58 and its two-hundred day simple moving average is $19.51.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results 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). Equities research analysts expect that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Transactions at Tyra Biosciences

In related news, CFO Alan Fuhrman acquired 9,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the completion of the transaction, the chief financial officer now directly owns 12,849 shares of the company’s stock, valued at approximately $205,584. The trade was a 283.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nina S. Kjellson sold 11,078 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.17, for a total value of $179,131.26. Following the transaction, the director now owns 472,207 shares in the company, valued at approximately $7,635,587.19. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,660 shares of company stock worth $1,839,047 in the last three months. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TYRA. FMR LLC grew its stake in Tyra Biosciences by 0.8% during the third quarter. FMR LLC now owns 3,372,850 shares of the company’s stock worth $79,296,000 after buying an additional 26,187 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Tyra Biosciences during the third quarter worth $24,994,000. Perceptive Advisors LLC raised its position in Tyra Biosciences by 50.5% in the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after purchasing an additional 338,208 shares during the last quarter. State Street Corp grew its holdings in shares of Tyra Biosciences by 4.4% during the third quarter. State Street Corp now owns 384,732 shares of the company’s stock worth $9,045,000 after purchasing an additional 16,248 shares during the last quarter. Finally, Ally Bridge Group NY LLC increased its stake in shares of Tyra Biosciences by 2.0% in the third quarter. Ally Bridge Group NY LLC now owns 270,075 shares of the company’s stock valued at $6,349,000 after buying an additional 5,415 shares during the period. 84.14% of the stock is owned by institutional investors and hedge funds.

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.