Tyra Biosciences (NASDAQ:TYRA) Trading Down 4.3% – Should You Sell?

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

Tyra Biosciences Stock Performance

The firm has a market cap of $713.00 million, a price-to-earnings ratio of -8.75 and a beta of 1.01. The business has a 50 day simple moving average of $17.58 and a 200-day simple moving average of $19.51.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). As a group, research analysts anticipate that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Buying and Selling at Tyra Biosciences

In related news, CEO Todd Harris sold 19,084 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $27.90, for a total value of $532,443.60. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nina S. Kjellson sold 11,078 shares of the stock in a transaction 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 sale, the director now owns 472,207 shares in the company, valued at approximately $7,635,587.19. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,660 shares of company stock worth $1,839,047 over the last three months. 15.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds have recently bought and sold shares of TYRA. FMR LLC lifted its position in Tyra Biosciences by 0.8% in the third quarter. FMR LLC now owns 3,372,850 shares of the company’s stock valued at $79,296,000 after purchasing an additional 26,187 shares during the last quarter. Janus Henderson Group PLC bought a new position in Tyra Biosciences during the 3rd quarter valued at approximately $24,994,000. Perceptive Advisors LLC raised its holdings 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 valued at $16,108,000 after acquiring an additional 338,208 shares in the last quarter. State Street Corp raised its stake in Tyra Biosciences by 4.4% in the third quarter. State Street Corp now owns 384,732 shares of the company’s stock worth $9,045,000 after buying an additional 16,248 shares in the last quarter. Finally, Ally Bridge Group NY LLC boosted its position in Tyra Biosciences by 2.0% during the 3rd quarter. Ally Bridge Group NY LLC now owns 270,075 shares of the company’s stock valued at $6,349,000 after acquiring an additional 5,415 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors.

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.