Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 4.6%

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) fell 4.6% during trading on Wednesday . The stock traded as low as $21.66 and last traded at $21.78. 81,780 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 147,756 shares. The stock had previously closed at $22.84.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TYRA. HC Wainwright reiterated a “buy” rating and issued a $23.00 target price on shares of Tyra Biosciences in a report on Wednesday, July 3rd. 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 report on Thursday, September 19th. Piper Sandler began coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Tyra Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.40.

Tyra Biosciences Price Performance

The business’s fifty day moving average is $21.70 and its 200-day moving average is $18.94. The firm has a market cap of $1.18 billion, a PE ratio of -13.32 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. Analysts forecast that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

Insider Activity

In other news, CEO Todd Harris sold 10,092 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total value of $243,519.96. Following the sale, the chief executive officer now owns 1,479,528 shares of the company’s stock, valued at $35,701,010.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 16,390 shares of company stock valued at $396,444 over the last quarter. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently bought and sold shares of the company. HighVista Strategies LLC purchased a new position in Tyra Biosciences during the second quarter valued at approximately $257,000. Rhumbline Advisers grew its stake in Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after acquiring an additional 2,574 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after acquiring an additional 14,352 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Tyra Biosciences during the first quarter valued at approximately $977,000. Finally, Wellington Management Group LLP grew its stake in Tyra Biosciences by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock valued at $1,419,000 after acquiring an additional 8,324 shares in the last quarter. Hedge funds and other institutional investors 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.