Tyra Biosciences (NASDAQ:TYRA) Shares Down 4.9% - Here's Why

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares fell 4.9% during mid-day trading on Tuesday . The company traded as low as $10.48 and last traded at $10.38. 15,498 shares were traded during trading, a decline of 95% from the average session volume of 289,933 shares. The stock had previously closed at $10.91.

Analysts Set New Price Targets

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

Tyra Biosciences Trading Down 4.3%

The stock has a 50 day moving average price of $9.89 and a two-hundred day moving average price of $11.11. The company has a market cap of $551.61 million, a price-to-earnings ratio of -6.37 and a beta of 1.07.

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

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, Director Gilla Kaplan sold 9,568 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $9.78, for a total transaction of $93,575.04. Following the completion of the transaction, the director owned 28,231 shares in the company, valued at approximately $276,099.18. This represents a 25.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 61,392 shares of company stock valued at $628,358. 15.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently modified their holdings of TYRA. Bank of New York Mellon Corp lifted its stake in Tyra Biosciences by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company's stock valued at $626,000 after purchasing an additional 2,221 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Tyra Biosciences by 88.3% in the 4th quarter. Victory Capital Management Inc. now owns 56,640 shares of the company's stock valued at $787,000 after purchasing an additional 26,560 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Tyra Biosciences in the 4th quarter valued at about $761,000. KLP Kapitalforvaltning AS acquired a new stake in Tyra Biosciences in the 4th quarter valued at about $31,000. Finally, EntryPoint Capital LLC acquired a new stake in Tyra Biosciences in the 4th quarter valued at about $253,000. Institutional investors 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.