Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 5% – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA) dropped 5% during mid-day trading on Friday . The stock traded as low as $15.42 and last traded at $15.52. Approximately 12,852 shares traded hands during trading, a decline of 93% from the average daily volume of 190,734 shares. The stock had previously closed at $16.34.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Oppenheimer lifted their target price on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Piper Sandler initiated coverage on Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective on the stock. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research report on Friday, October 25th. Finally, HC Wainwright dropped 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 report on Monday, November 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $31.00.

Tyra Biosciences Trading Down 5.8 %

The company has a market cap of $778.78 million, a P/E ratio of -9.56 and a beta of 1.08. The company’s 50-day moving average price is $21.31 and its two-hundred day moving average price is $19.97.

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

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, CFO Alan Fuhrman bought 9,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $16.00 per share, with a total value of $152,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 12,849 shares of the company’s stock, valued at approximately $205,584. The trade was a 283.67 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Harris sold 10,092 shares of the company’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 transaction, the chief executive officer now directly owns 1,479,528 shares of the company’s stock, valued at $35,701,010.64. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,050 shares of company stock valued at $2,235,492. Corporate insiders own 15.40% of the company’s stock.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently made changes to their positions in TYRA. RA Capital Management L.P. increased its position in Tyra Biosciences by 43.9% in the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock worth $170,832,000 after buying an additional 3,180,155 shares during the period. BVF Inc. IL grew its position in shares of Tyra Biosciences by 70.1% during the first quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after acquiring an additional 1,921,599 shares during the last quarter. FMR LLC grew its position in shares of Tyra Biosciences by 0.8% during the third quarter. FMR LLC now owns 3,372,850 shares of the company’s stock worth $79,296,000 after acquiring an additional 26,187 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Tyra Biosciences in the 3rd quarter worth about $24,994,000. Finally, Perceptive Advisors LLC lifted its position in Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after purchasing an additional 338,208 shares during the last quarter. 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.