Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 4.1% – Time to Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price was down 4.1% on Thursday . The company traded as low as $15.75 and last traded at $16.05. Approximately 7,439 shares changed hands during trading, a decline of 97% from the average daily volume of 292,863 shares. The stock had previously closed at $16.73.

Analysts Set New Price Targets

A number of analysts have weighed in on TYRA shares. Oppenheimer increased their target price on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Wedbush reissued an “outperform” rating and set a $28.00 target price on shares of Tyra Biosciences in a research report on Friday, October 25th. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.00 to $31.00 in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Monday. Finally, UBS Group started coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tyra Biosciences has a consensus rating of “Buy” and a consensus target price of $30.50.

Tyra Biosciences Trading Down 3.4 %

The company has a market cap of $817.70 million, a price-to-earnings ratio of -10.04 and a beta of 1.04. The firm’s 50-day moving average price is $15.40 and its 200 day moving average price is $19.20.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 11,078 shares of Tyra Biosciences stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.17, for a total value of $179,131.26. Following the completion of the sale, the director now owns 472,207 shares of the company’s stock, valued at approximately $7,635,587.19. This trade represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Harris sold 19,084 shares of Tyra Biosciences stock in a transaction on Monday, October 21st. The shares were sold at an average price of $27.90, for a total transaction of $532,443.60. Following the completion of the sale, the chief executive officer now directly owns 1,355,927 shares of the company’s stock, valued at approximately $37,830,363.30. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,731 shares of company stock valued at $1,185,162. 15.40% of the stock is owned by company insiders.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently bought and sold shares of TYRA. Janus Henderson Group PLC acquired a new stake in Tyra Biosciences in the 3rd quarter valued at $24,994,000. Perceptive Advisors LLC lifted its stake in Tyra Biosciences by 50.5% during the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after acquiring an additional 338,208 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in Tyra Biosciences during the 2nd quarter valued at $4,232,000. Ensign Peak Advisors Inc bought a new position in Tyra Biosciences during the 2nd quarter valued at $3,047,000. Finally, American Century Companies Inc. lifted its stake in Tyra Biosciences by 582.9% during the 2nd quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock valued at $2,723,000 after acquiring an additional 145,346 shares in the last quarter. 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.