Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 5% – What’s Next?

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) fell 5% during mid-day trading on Friday . The company traded as low as $15.42 and last traded at $15.52. 12,852 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 190,734 shares. The stock had previously closed at $16.34.

Analyst Ratings Changes

Several analysts recently commented on the company. Wedbush restated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research report on Friday, October 25th. Piper Sandler assumed coverage on Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target on the stock. Oppenheimer upped their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. HC Wainwright lowered their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.00.

Tyra Biosciences Stock Performance

The company has a market cap of $778.78 million, a P/E ratio of -9.56 and a beta of 1.08. The stock has a 50 day moving average price of $21.31 and a 200 day moving average price of $19.97.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.01). As a group, equities research analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Activity at Tyra Biosciences

In related news, CFO Alan Fuhrman bought 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the acquisition, the chief financial officer now directly owns 12,849 shares of the company’s stock, valued at $205,584. The trade was a 283.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nina S. Kjellson sold 11,078 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.17, for a total value of $179,131.26. Following the sale, the director now directly owns 472,207 shares of the company’s stock, valued at approximately $7,635,587.19. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,050 shares of company stock valued at $2,235,492 over the last ninety days. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Valence8 US LP acquired a new position in Tyra Biosciences in the 3rd quarter worth approximately $310,000. SG Americas Securities LLC acquired a new stake in shares of Tyra Biosciences in the third quarter worth $311,000. The Manufacturers Life Insurance Company purchased a new position in shares of Tyra Biosciences during the third quarter valued at $333,000. HighVista Strategies LLC acquired a new position in Tyra Biosciences during the second quarter valued at $257,000. Finally, Quest Partners LLC purchased a new stake in Tyra Biosciences in the 3rd quarter worth about $491,000. 84.14% of the stock is owned by hedge funds and other 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.