Tyra Biosciences (NASDAQ:TYRA) Trading Down 7.3%

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price dropped 7.3% during trading on Thursday . The company traded as low as $14.79 and last traded at $14.84. Approximately 34,082 shares changed hands during trading, a decline of 74% from the average daily volume of 129,525 shares. The stock had previously closed at $16.00.

Analyst Upgrades and Downgrades

TYRA has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Thursday, March 21st. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective (up from $19.00) on shares of Tyra Biosciences in a report on Wednesday, March 20th.

Tyra Biosciences Stock Up 3.7 %

The firm has a market capitalization of $822.99 million, a price-to-earnings ratio of -9.73 and a beta of 1.12. The company has a fifty day moving average price of $17.38 and a two-hundred day moving average price of $14.85.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.05). On average, equities analysts anticipate that Tyra Biosciences, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Transactions at Tyra Biosciences

In other news, COO Daniel Bensen sold 1,501 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $20.00, for a total transaction of $30,020.00. Following the completion of the sale, the chief operating officer now owns 451,480 shares in the company, valued at $9,029,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,816 shares of company stock worth $298,165 over the last 90 days. 18.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Tyra Biosciences by 18.5% in the third quarter. Wellington Management Group LLP now owns 94,112 shares of the company’s stock worth $1,296,000 after acquiring an additional 14,676 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Tyra Biosciences by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,531 shares of the company’s stock worth $132,000 after acquiring an additional 2,417 shares in the last quarter. Simplex Trading LLC raised its position in Tyra Biosciences by 198.1% in the third quarter. Simplex Trading LLC now owns 2,009 shares of the company’s stock worth $27,000 after acquiring an additional 1,335 shares in the last quarter. Corton Capital Inc. purchased a new position in Tyra Biosciences in the third quarter worth $152,000. Finally, Bank of New York Mellon Corp raised its position in Tyra Biosciences by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 41,870 shares of the company’s stock worth $577,000 after acquiring an additional 1,074 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.