Tyra Biosciences (NASDAQ:TYRA) Stock Breaks Below Fifty Day Moving Average After Earnings Miss

Key Points

• Tyra Biosciences missed quarterly earnings expectations: It reported a loss of $0.74 per share versus analysts’ expected loss of $0.67, and shares fell below the 50-day moving average of $22.04, trading as low as $20.80.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $47.20, though Oppenheimer lowered its target from $50 to $40.
• Institutional investors and hedge funds own 84.14% of the company’s shares; recent activity included Janus Henderson increasing its stake and several firms establishing new positions.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares passed below its fifty day moving average during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock has a fifty day moving average of $22.04 and traded as low as $20.80. Tyra Biosciences shares last traded at $21.00, with a volume of 793,826 shares changing hands.

The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.07).

Analyst Upgrades and Downgrades

TYRA has been the topic of a number of research reports. Raymond James Financial restated a "strong-buy" rating and set a $50.00 target price on shares of Tyra Biosciences in a research report on Tuesday, October 6th. Piper Sandler reiterated an "overweight" rating and set a $56.00 price target on shares of Tyra Biosciences in a research report on Tuesday, September 8th. Oppenheimer reissued an "outperform" rating and set a $40.00 price target (down from $50.00) on shares of Tyra Biosciences in a research note on Tuesday, September 22nd. Jefferies Financial Group reissued a "buy" rating and set a $42.00 price target on shares of Tyra Biosciences in a research note on Wednesday, August 5th. Finally, Wedbush restated an "outperform" rating and issued a $53.00 price objective on shares of Tyra Biosciences in a report on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.20.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its position in shares of Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company's stock valued at $148,867,000 after acquiring an additional 955,147 shares during the period. Jupiter Topco LLC acquired a new position in Tyra Biosciences during the second quarter valued at approximately $139,161,000. BlackRock Inc. acquired a new position in Tyra Biosciences during the second quarter valued at approximately $96,841,000. 5AM Venture Management LLC bought a new stake in Tyra Biosciences in the second quarter valued at approximately $32,875,778. Finally, Jennison Associates LLC bought a new stake in Tyra Biosciences in the first quarter valued at approximately $24,222,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences Stock Down 5.8%

The company's fifty day simple moving average is $22.04 and its two-hundred day simple moving average is $29.54. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.75 and a beta of 0.65.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc. is a clinical-stage biopharmaceutical company developing precision medicines for genetically defined diseases. Its research focuses on small-molecule therapies that target the fibroblast growth factor receptor (FGFR) family and related pathways, using a drug-discovery approach designed to address resistance and selectivity challenges. The company's pipeline includes TYRA-300, a selective FGFR3 inhibitor being studied for conditions including achondroplasia and urothelial cancer, and TYRA-200, an FGFR inhibitor being developed for certain cancers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.