Tyra Biosciences (NASDAQ:TYRA) Hits New 1-Year Low – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.91 and last traded at $12.13, with a volume of 432196 shares traded. The stock had previously closed at $12.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group began coverage on Tyra Biosciences in a research note on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $28.00 price objective 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 boosted their target price for the company from $22.00 to $31.00 in a research report on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a research note on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $30.50.

Tyra Biosciences Price Performance

The company has a market cap of $613.78 million, a P/E ratio of -7.53 and a beta of 1.05. The stock has a 50-day moving average of $14.92 and a 200 day moving average of $18.60.

Insiders Place Their Bets

In other Tyra Biosciences news, Director Nina S. Kjellson sold 3,993 shares of the company’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 in the company, valued at $60,653,391.20. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 21,998 shares of company stock worth $344,818 over the last ninety days. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Tyra Biosciences in the third quarter valued at about $311,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Tyra Biosciences by 9.0% in the third quarter. Oppenheimer & Co. Inc. now owns 76,806 shares of the company’s stock worth $1,806,000 after acquiring an additional 6,318 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Tyra Biosciences in the 3rd quarter valued at approximately $491,000. Jennison Associates LLC grew its holdings in shares of Tyra Biosciences by 5.9% during the 3rd quarter. Jennison Associates LLC now owns 158,187 shares of the company’s stock valued at $3,719,000 after purchasing an additional 8,837 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Tyra Biosciences by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 173,737 shares of the company’s stock worth $4,085,000 after purchasing an additional 3,792 shares in the last quarter. Institutional investors own 84.14% of the company’s stock.

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.