Tyra Biosciences (NASDAQ:TYRA) Shares Down 6.4% – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price dropped 6.4% during mid-day trading on Wednesday . The company traded as low as $30.47 and last traded at $30.89. Approximately 220,339 shares traded hands during trading, a decline of 70% from the average daily volume of 740,142 shares. The stock had previously closed at $33.01.

Analysts Set New Price Targets

TYRA has been the topic of a number of recent research reports. William Blair started coverage on Tyra Biosciences in a research report on Tuesday, February 10th. They set an “outperform” rating on the stock. Cantor Fitzgerald began coverage on Tyra Biosciences in a report on Tuesday, February 24th. They set an “overweight” rating on the stock. Wall Street Zen cut Tyra Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. Barclays initiated coverage on shares of Tyra Biosciences in a research note on Tuesday, January 27th. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group lifted their price target on shares of Tyra Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Tyra Biosciences Price Performance

The company has a market capitalization of $1.77 billion, a PE ratio of -16.49 and a beta of 1.06. The company’s 50 day simple moving average is $29.72 and its 200 day simple moving average is $20.76.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.03). On average, equities analysts forecast that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Transactions at Tyra Biosciences

In other news, Director Robert J. More sold 10,000 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the director directly owned 3,823,425 shares of the company’s stock, valued at $95,585,625. This represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 15.20% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds have recently modified their holdings of the stock. Commodore Capital LP grew its position in Tyra Biosciences by 226.3% during the second quarter. Commodore Capital LP now owns 3,100,000 shares of the company’s stock valued at $29,667,000 after acquiring an additional 2,150,000 shares during the period. Farallon Capital Management LLC grew its holdings in shares of Tyra Biosciences by 80.7% during the 4th quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company’s stock worth $54,337,000 after purchasing an additional 923,000 shares during the period. Caligan Partners LP increased its position in Tyra Biosciences by 266.8% during the 3rd quarter. Caligan Partners LP now owns 696,825 shares of the company’s stock worth $9,749,000 after purchasing an additional 506,875 shares in the last quarter. Boone Capital Management LLC acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth $10,476,000. Finally, Sio Capital Management LLC raised its stake in shares of Tyra Biosciences by 94.5% in the 2nd quarter. Sio Capital Management LLC now owns 810,274 shares of the company’s stock valued at $7,754,000 after acquiring an additional 393,657 shares during the period. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Company Profile

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.