Tyra Biosciences (NASDAQ:TYRA) Trading Down 3% After Insider Selling

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) traded down 3% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $10.09 and last traded at $10.12. 51,715 shares were traded during mid-day trading, a decline of 81% from the average session volume of 278,002 shares. The stock had previously closed at $10.43.

Specifically, Director Gilla Kaplan sold 6,814 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $10.38, for a total value of $70,729.32. Following the transaction, the director now directly owns 37,809 shares of the company's stock, valued at $392,457.42. This trade represents a 15.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilla Kaplan sold 15,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $10.31, for a total transaction of $154,650.00. Following the completion of the transaction, the director now directly owns 44,623 shares in the company, valued at approximately $460,063.13. This represents a 25.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Tyra Biosciences news, Director Gilla Kaplan sold 30,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $10.31, for a total value of $309,300.00. Following the transaction, the director now directly owns 59,623 shares of the company's stock, valued at $614,713.13. This trade represents a 33.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

TYRA has been the topic of several recent analyst reports. Wedbush reissued an "outperform" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Friday, March 28th. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Monday, March 31st. Finally, Piper Sandler initiated coverage on shares of Tyra Biosciences in a report on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $30.83.

Tyra Biosciences Stock Performance

The company has a market capitalization of $504.36 million, a P/E ratio of -5.83 and a beta of 1.07. The firm's fifty day moving average is $9.74 and its 200-day moving average is $11.81.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.02. As a group, analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds have recently modified their holdings of TYRA. Alta Partners Management Company L.P. acquired a new stake in shares of Tyra Biosciences during the 4th quarter valued at $56,716,000. Boxer Capital Management LLC bought a new stake in Tyra Biosciences during the 4th quarter worth approximately $28,185,000. Vestal Point Capital LP grew its holdings in Tyra Biosciences by 190.9% during the 1st quarter. Vestal Point Capital LP now owns 2,879,829 shares of the company's stock worth $26,782,000 after acquiring an additional 1,889,829 shares during the last quarter. Farallon Capital Management LLC bought a new stake in Tyra Biosciences during the 4th quarter worth approximately $13,914,000. Finally, Orbimed Advisors LLC grew its holdings in Tyra Biosciences by 91.3% during the 4th quarter. Orbimed Advisors LLC now owns 1,470,086 shares of the company's stock worth $20,434,000 after acquiring an additional 701,448 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company's stock.

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.