Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 4.9% - What's Next?

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TYRA shares. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Tyra Biosciences in a report on Tuesday, July 1st. Piper Sandler initiated 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 for the company. Finally, Wedbush reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Friday, March 28th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Tyra Biosciences currently has an average rating of "Buy" and a consensus price target of $30.83.

Tyra Biosciences Stock Up 0.8%

The company's fifty day moving average price is $9.87 and its two-hundred day moving average price is $11.15. The company has a market cap of $584.52 million, a price-to-earnings ratio of -6.75 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) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.02. On average, equities research analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tyra Biosciences news, Director Gilla Kaplan sold 30,000 shares of the 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 directly owned 59,623 shares of the company's stock, valued at $614,713.13. This represents a 33.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, 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

A number of hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. increased its position in Tyra Biosciences by 2.1% during the fourth quarter. RA Capital Management L.P. now owns 10,637,290 shares of the company's stock worth $147,858,000 after acquiring an additional 220,681 shares during the period. Vestal Point Capital LP increased its position in Tyra Biosciences by 190.9% during the first 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 period. Boxer Capital Management LLC bought a new position in Tyra Biosciences during the fourth quarter worth about $28,185,000. Janus Henderson Group PLC increased its position in Tyra Biosciences by 63.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,746,320 shares of the company's stock worth $24,291,000 after acquiring an additional 679,124 shares during the period. Finally, Orbimed Advisors LLC increased its position in Tyra Biosciences by 91.3% during the fourth 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 period. 84.14% of the stock is owned by institutional investors.

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.