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

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price fell 6.4% during trading on Wednesday . The company traded as low as $30.47 and last traded at $30.89. 220,339 shares traded 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

Several analysts recently issued reports on the company. Wall Street Zen downgraded Tyra Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. Piper Sandler raised their target price on shares of Tyra Biosciences from $33.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. William Blair began coverage on shares of Tyra Biosciences in a research note on Tuesday, February 10th. They issued an “outperform” rating on the stock. Barclays initiated coverage on Tyra Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating for the company. Finally, Wedbush boosted their target price on Tyra Biosciences from $37.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tyra Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

Tyra Biosciences Price Performance

The company has a 50-day moving average of $30.07 and a 200 day moving average of $20.96. The company has a market cap of $1.86 billion, a PE ratio of -17.18 and a beta of 1.06.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.03). Equities research analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling

In other Tyra Biosciences news, Director Robert J. More sold 10,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the director owned 3,823,425 shares in the company, valued at $95,585,625. The trade was a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its stake in Tyra Biosciences by 586.3% in the third 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 period. Caitong International Asset Management Co. Ltd bought a new position in shares of Tyra Biosciences in the fourth quarter worth about $51,000. Chung Wu Investment Group LLC purchased a new position in Tyra Biosciences in the 4th quarter worth about $53,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tyra Biosciences by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after buying an additional 534 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Tyra Biosciences by 14.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after buying an additional 1,668 shares during the period. Hedge funds and other institutional investors own 84.14% of the company’s stock.

About Tyra Biosciences

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.