Tyra Biosciences (NASDAQ:TYRA) Shares Down 3% - What's Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s stock price traded down 3% during trading on Monday . 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.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TYRA shares. Wedbush restated an "outperform" rating and set a $30.00 target price on shares of Tyra Biosciences in a report on Friday, March 28th. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Tyra Biosciences in a research report on Monday, March 31st. Finally, Piper Sandler initiated coverage on shares of Tyra Biosciences in a research report on Wednesday, May 21st. They set an "overweight" rating and a $33.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $30.83.

Tyra Biosciences Price Performance

The company has a 50-day moving average price of $9.57 and a 200-day moving average price of $11.93. The firm has a market capitalization of $554.26 million, a PE ratio of -6.47 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.02. On average, research analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in Tyra Biosciences in the fourth quarter worth approximately $31,000. US Bancorp DE acquired a new position in shares of Tyra Biosciences in the 4th quarter worth $50,000. BNP Paribas Financial Markets acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $60,000. Aquatic Capital Management LLC purchased a new stake in shares of Tyra Biosciences during the fourth quarter valued at $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Tyra Biosciences in the 1st quarter worth about $84,000. 84.14% of the stock is owned by institutional investors.

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.

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