Tyra Biosciences (NASDAQ:TYRA) Sets New 52-Week Low – Should You Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.65 and last traded at $10.95, with a volume of 421036 shares traded. The stock had previously closed at $11.21.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TYRA. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Tuesday, February 18th. UBS Group assumed coverage on Tyra Biosciences in a report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $30.50.

Tyra Biosciences Trading Down 0.4 %

The firm has a market capitalization of $559.67 million, a PE ratio of -6.87 and a beta of 1.09. The business has a 50-day moving average of $14.04 and a 200 day moving average of $17.65.

Insider Activity at Tyra Biosciences

In other news, Director Nina S. Kjellson sold 3,993 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total transaction of $65,325.48. Following the completion of the sale, the director now directly owns 3,707,420 shares of the company’s stock, valued at $60,653,391.20. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 21,998 shares of company stock valued at $344,818. 15.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in shares of Tyra Biosciences by 4.1% during the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company’s stock valued at $364,000 after purchasing an additional 1,027 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Tyra Biosciences during the 4th quarter valued at $31,000. Bank of New York Mellon Corp increased its position in shares of Tyra Biosciences by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company’s stock valued at $626,000 after purchasing an additional 2,221 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Tyra Biosciences by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 9,493 shares of the company’s stock valued at $132,000 after purchasing an additional 3,236 shares during the last quarter. Finally, US Bancorp DE purchased a new stake in shares of Tyra Biosciences during the 4th quarter valued at $50,000. 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.