Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 8.3%

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) was down 8.3% during trading on Wednesday . The company traded as low as $15.59 and last traded at $15.64. Approximately 42,517 shares were traded during trading, a decline of 67% from the average daily volume of 129,226 shares. The stock had previously closed at $17.05.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TYRA shares. HC Wainwright reaffirmed a "buy" rating and set a $23.00 price objective (up previously from $19.00) on shares of Tyra Biosciences in a research note on Wednesday, March 20th. Wedbush reiterated an "outperform" rating and set a $28.00 target price on shares of Tyra Biosciences in a report on Thursday, March 21st. Finally, Bank of America cut Tyra Biosciences from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $25.00 to $15.00 in a report on Friday, December 15th.

Tyra Biosciences Stock Performance

The stock has a market cap of $805.66 million, a PE ratio of -9.53 and a beta of 1.12. The stock has a fifty day simple moving average of $18.05 and a two-hundred day simple moving average of $14.75.

Insiders Place Their Bets

In other Tyra Biosciences news, COO Daniel Bensen sold 1,733 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $20.09, for a total value of $34,815.97. Following the completion of the transaction, the chief operating officer now owns 431,951 shares in the company, valued at approximately $8,677,895.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 15,816 shares of company stock worth $298,165 in the last 90 days. 18.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyra Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Simplex Trading LLC raised its position in shares of Tyra Biosciences by 198.1% in the 3rd quarter. Simplex Trading LLC now owns 2,009 shares of the company's stock valued at $27,000 after purchasing an additional 1,335 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Tyra Biosciences by 1,244.2% during the 4th quarter. Federated Hermes Inc. now owns 2,070 shares of the company's stock valued at $29,000 after acquiring an additional 1,916 shares in the last quarter. Royal Bank of Canada raised its position in shares of Tyra Biosciences by 206.9% during the 2nd quarter. Royal Bank of Canada now owns 2,277 shares of the company's stock valued at $39,000 after acquiring an additional 1,535 shares in the last quarter. Barclays PLC raised its position in shares of Tyra Biosciences by 544.1% during the 4th quarter. Barclays PLC now owns 3,581 shares of the company's stock valued at $27,000 after acquiring an additional 3,025 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Tyra Biosciences by 3,841.8% during the 4th quarter. UBS Group AG now owns 3,587 shares of the company's stock valued at $27,000 after acquiring an additional 3,496 shares in the last quarter. Hedge funds and other 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.