Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 4.6%

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) fell 4.6% during trading on Wednesday . The stock traded as low as $21.66 and last traded at $21.78. 81,780 shares changed hands during trading, a decline of 45% from the average session volume of 147,756 shares. The stock had previously closed at $22.84.

Analysts Set New Price Targets

A number of analysts have issued reports on TYRA shares. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a report on Thursday, August 8th. Piper Sandler started coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Tyra Biosciences in a report on Wednesday, July 3rd. Finally, Oppenheimer boosted their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.40.

Tyra Biosciences Trading Down 2.0 %

The company’s 50-day simple moving average is $21.70 and its 200-day simple moving average is $18.94. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -13.32 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. On average, equities research analysts expect that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Todd Harris sold 10,092 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,479,528 shares of the company’s stock, valued at approximately $35,701,010.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 16,390 shares of company stock valued at $396,444. 15.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TYRA. HighVista Strategies LLC acquired a new position in Tyra Biosciences during the second quarter worth $257,000. Rhumbline Advisers raised its holdings in Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after buying an additional 2,574 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after buying an additional 14,352 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Tyra Biosciences during the first quarter worth $977,000. Finally, Wellington Management Group LLP raised its holdings in Tyra Biosciences by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after buying an additional 8,324 shares during the last quarter. 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.