Tyra Biosciences (NASDAQ:TYRA) Shares Down 6.4% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) fell 6.4% during trading on Wednesday . The company traded as low as $30.47 and last traded at $30.89. 220,339 shares changed hands during trading, a decline of 70% from the average session volume of 740,142 shares. The stock had previously closed at $33.01.

Analyst Ratings Changes

TYRA has been the topic of several analyst reports. Cantor Fitzgerald started coverage on Tyra Biosciences in a report on Tuesday, February 24th. They set an “overweight” rating on the stock. Piper Sandler raised their price target on shares of Tyra Biosciences from $33.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Jefferies Financial Group lifted their price target on shares of Tyra Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Wednesday, January 21st. Finally, Wedbush boosted their target price on shares of Tyra Biosciences from $37.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.33.

Tyra Biosciences Stock Performance

The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -16.49 and a beta of 1.06. The company’s fifty day moving average price is $29.72 and its 200 day moving average price is $20.76.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.03). As a group, sell-side analysts expect that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Activity

In other news, Director Robert J. More sold 10,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the director owned 3,823,425 shares in the company, valued at approximately $95,585,625. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.20% of the company’s stock.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. grew its position in Tyra Biosciences by 586.3% in the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock worth $30,000 after purchasing an additional 1,841 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Tyra Biosciences in the 4th quarter worth approximately $51,000. Chung Wu Investment Group LLC bought a new position in Tyra Biosciences in the 4th quarter worth approximately $53,000. Mirae Asset Global Investments Co. Ltd. increased its position in Tyra Biosciences by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after acquiring an additional 534 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after acquiring an additional 1,668 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Company Profile

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.