Tyra Biosciences (NASDAQ:TYRA) Sets New 52-Week Low – Time to Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares hit a new 52-week low during trading on Thursday . The company traded as low as $9.86 and last traded at $10.11, with a volume of 41955 shares traded. The stock had previously closed at $10.24.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TYRA. UBS Group assumed coverage on Tyra Biosciences in a research note on Tuesday, January 7th. They issued a “buy” rating and a $28.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Tyra Biosciences in a report on Tuesday, February 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Tyra Biosciences presently has a consensus rating of “Buy” and a consensus target price of $30.50.

Tyra Biosciences Stock Performance

The firm has a 50-day moving average of $12.72 and a 200-day moving average of $16.49. The firm has a market capitalization of $510.08 million, a P/E ratio of -6.26 and a beta of 1.09.

Insider Transactions at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 5,401 shares of Tyra Biosciences stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $13.76, for a total value of $74,317.76. Following the completion of the sale, the director now directly owns 443,885 shares in the company, valued at approximately $6,107,857.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 21,998 shares of company stock worth $344,818 over the last quarter. 15.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Tyra Biosciences by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 173,737 shares of the company’s stock valued at $4,085,000 after purchasing an additional 3,792 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Tyra Biosciences during the 3rd quarter valued at $333,000. FMR LLC raised its stake in Tyra Biosciences by 0.8% during the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company’s stock valued at $79,296,000 after buying an additional 26,187 shares during the last quarter. Ally Bridge Group NY LLC boosted its stake in shares of Tyra Biosciences by 2.0% in the 3rd quarter. Ally Bridge Group NY LLC now owns 270,075 shares of the company’s stock worth $6,349,000 after buying an additional 5,415 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Tyra Biosciences in the third quarter worth $593,000. Institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

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.