Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 4.9% – What’s Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares fell 4.9% during trading on Wednesday . The stock traded as low as $20.53 and last traded at $20.58. 21,420 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 146,964 shares. The stock had previously closed at $21.64.

Analyst Ratings Changes

A number of brokerages recently weighed in on TYRA. HC Wainwright upped their price objective on Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Monday. Oppenheimer raised their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Piper Sandler began coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $28.00 target price on shares of Tyra Biosciences in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.80.

Tyra Biosciences Stock Performance

The company’s fifty day moving average is $21.80 and its two-hundred day moving average is $19.12. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -12.88 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. As a group, analysts forecast that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at Tyra Biosciences

In related news, CEO Todd Harris sold 10,092 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $24.13, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 16,890 shares of company stock worth $408,444. Company insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Several large investors have recently modified their holdings of the stock. HighVista Strategies LLC purchased a new stake in Tyra Biosciences in the 2nd quarter worth approximately $257,000. SG Americas Securities LLC acquired a new stake in Tyra Biosciences during the third quarter valued at approximately $311,000. Rhumbline Advisers increased its stake in shares of Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after buying an additional 2,574 shares in the last quarter. Bank of New York Mellon Corp raised its position in Tyra Biosciences by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after purchasing an additional 14,352 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Tyra Biosciences in the first quarter worth about $977,000. 84.14% of the stock is 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.