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

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

Wall Street Analysts Forecast Growth

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

Tyra Biosciences Stock Down 0.1 %

The business’s 50-day simple moving average is $17.94 and its two-hundred day simple moving average is $19.59. The firm has a market cap of $707.43 million, a price-to-earnings ratio of -8.68 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last announced its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, analysts expect that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the director now directly owns 472,207 shares in the company, valued at approximately $7,635,587.19. This represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Harris sold 19,084 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $27.90, for a total value of $532,443.60. Following 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. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,260 shares of company stock valued at $1,853,453 in the last ninety days. 15.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyra Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in TYRA. 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 worth $2,723,000 after acquiring an additional 145,346 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Tyra Biosciences by 50.5% during the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after purchasing an additional 338,208 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Tyra Biosciences in the third quarter valued at approximately $24,994,000. Ensign Peak Advisors Inc acquired a new position in shares of Tyra Biosciences in the second quarter valued at approximately $3,047,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in Tyra Biosciences during the 3rd quarter worth approximately $2,071,000. 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.