Tyra Biosciences (NASDAQ:TYRA) Shares Down 3.3% - Should You Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) fell 3.3% during mid-day trading on Thursday . The stock traded as low as $9.84 and last traded at $9.72. 26,556 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 284,459 shares. The stock had previously closed at $10.05.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TYRA. Piper Sandler began coverage on shares of Tyra Biosciences in a research note on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 target price on the stock. Wedbush reiterated an "outperform" rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Friday, March 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tyra Biosciences presently has an average rating of "Buy" and a consensus target price of $30.83.

Tyra Biosciences Trading Down 0.5%

The business's 50 day moving average price is $9.86 and its two-hundred day moving average price is $11.33. The stock has a market cap of $530.63 million, a P/E ratio of -6.13 and a beta of 1.07.

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

Insider Transactions at Tyra Biosciences

In related news, Director Gilla Kaplan sold 30,000 shares of Tyra Biosciences stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $10.31, for a total transaction of $309,300.00. Following the completion of the transaction, the director directly owned 59,623 shares of the company's stock, valued at $614,713.13. This trade represents a 33.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 61,392 shares of company stock worth $628,358. Company insiders own 15.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TYRA. Rhumbline Advisers lifted its position in Tyra Biosciences by 4.1% during the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company's stock valued at $364,000 after acquiring an additional 1,027 shares during the period. Bank of New York Mellon Corp raised its holdings in Tyra Biosciences by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company's stock worth $626,000 after buying an additional 2,221 shares during the last quarter. US Bancorp DE purchased a new position in Tyra Biosciences in the fourth quarter worth about $50,000. Victory Capital Management Inc. raised its holdings in Tyra Biosciences by 88.3% in the fourth quarter. Victory Capital Management Inc. now owns 56,640 shares of the company's stock worth $787,000 after buying an additional 26,560 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Tyra Biosciences in the fourth quarter worth about $761,000. 84.14% of the stock is owned by hedge funds and other 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.