Tyra Biosciences (NASDAQ:TYRA) Shares Down 2%

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) dropped 2% during trading on Wednesday . The company traded as low as $16.21 and last traded at $16.37. Approximately 2,632 shares were traded during trading, a decline of 98% from the average daily volume of 145,034 shares. The stock had previously closed at $16.70.

Analyst Upgrades and Downgrades

TYRA has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Tyra Biosciences in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $28.00 target price on shares of Tyra Biosciences in a report on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $28.00 target price (up previously from $25.00) on shares of Tyra Biosciences in a report on Monday, May 13th.

Tyra Biosciences Price Performance

The stock has a market cap of $873.21 million, a P/E ratio of -10.04 and a beta of 1.01. The firm’s 50 day moving average price is $17.62 and its 200-day moving average price is $16.57.

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

Insider Activity at Tyra Biosciences

In related news, COO Daniel Bensen sold 3,502 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $70,040.00. Following the transaction, the chief operating officer now owns 427,981 shares in the company, valued at $8,559,620. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 15.40% of the stock is owned by insiders.

Institutional Trading of Tyra Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TYRA. RA Capital Management L.P. increased its holdings in Tyra Biosciences by 43.9% during the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after buying an additional 3,180,155 shares during the last quarter. BVF Inc. IL increased its stake in shares of Tyra Biosciences by 70.1% in the first quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after purchasing an additional 1,921,599 shares in the last quarter. Kynam Capital Management LP purchased a new stake in shares of Tyra Biosciences in the fourth quarter worth $4,712,000. Vanguard Group Inc. increased its stake in shares of Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after purchasing an additional 140,833 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Tyra Biosciences in the first quarter worth $977,000. 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.