Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 4.1% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) dropped 4.1% during trading on Thursday . The company traded as low as $15.75 and last traded at $16.05. Approximately 7,439 shares changed hands during trading, a decline of 97% from the average daily volume of 292,863 shares. The stock had previously closed at $16.73.

Analyst Ratings Changes

TYRA has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Tyra Biosciences in a research note on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price on the stock. Oppenheimer lifted their target price on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Tyra Biosciences in a report on Monday. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, October 25th. Finally, Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $22.00 to $31.00 in a report on Friday, October 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.50.

Tyra Biosciences Trading Down 3.4 %

The company has a market cap of $817.70 million, a PE ratio of -10.04 and a beta of 1.04. The firm has a fifty day moving average of $15.40 and a two-hundred day moving average of $19.20.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Sell-side analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Nina S. Kjellson sold 11,078 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 472,207 shares in the company, valued at approximately $7,635,587.19. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alan Fuhrman acquired 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $16.00 per share, for a total transaction of $152,000.00. Following the completion of the transaction, the chief financial officer now owns 12,849 shares of the company’s stock, valued at $205,584. The trade was a 283.67 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 58,731 shares of company stock worth $1,185,162 over the last ninety days. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Tyra Biosciences by 0.8% in the third quarter. FMR LLC now owns 3,372,850 shares of the company’s stock worth $79,296,000 after purchasing an additional 26,187 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Tyra Biosciences in the third quarter worth approximately $24,994,000. Perceptive Advisors LLC boosted its stake in Tyra Biosciences by 50.5% in the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after buying an additional 338,208 shares in the last quarter. State Street Corp boosted its stake in Tyra Biosciences by 4.4% in the third quarter. State Street Corp now owns 384,732 shares of the company’s stock worth $9,045,000 after buying an additional 16,248 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Tyra Biosciences by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company’s stock worth $8,667,000 after buying an additional 3,896 shares in the last quarter. 84.14% of the stock is currently 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.