Tyra Biosciences (NASDAQ:TYRA) Shares Down 8.7% – Here’s What Happened

by · The Cerbat Gem

Tyra Biosciences, Inc. (NASDAQ:TYRA – Get Free Report)’s stock price was down 8.7% during mid-day trading on Monday . The company traded as low as $31.04 and last traded at $30.5130. Approximately 203,710 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 927,402 shares. The stock had previously closed at $33.41.

Analyst Ratings Changes

A number of research analysts recently issued reports on TYRA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Monday, April 20th. Guggenheim started coverage on shares of Tyra Biosciences in a research note on Tuesday, April 14th. They issued a “buy” rating and a $54.00 target price on the stock. Canaccord Genuity Group started coverage on shares of Tyra Biosciences in a research note on Monday, April 6th. They issued a “buy” rating and a $50.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Finally, Piper Sandler raised their target price on shares of Tyra Biosciences from $42.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tyra Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Check Out Our Latest Research Report on TYRA

Tyra Biosciences Trading Down 8.3%

The business’s fifty day moving average price is $35.65 and its 200 day moving average price is $30.38. The company has a market capitalization of $1.82 billion, a P/E ratio of -14.05 and a beta of 0.75.

Tyra Biosciences (NASDAQ:TYRA – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Equities research analysts anticipate that Tyra Biosciences, Inc. will post -2.69 EPS for the current year.

Insider Activity at Tyra Biosciences

In other news, Director Gilla Kaplan sold 14,295 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $36.97, for a total transaction of $528,486.15. Following the completion of the transaction, the director directly owned 28,231 shares of the company’s stock, valued at approximately $1,043,700.07. This trade represents a 33.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tyra Biosciences by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock worth $68,000 after acquiring an additional 534 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Tyra Biosciences by 2.0% during the 4th quarter. AQR Capital Management LLC now owns 28,631 shares of the company’s stock worth $753,000 after acquiring an additional 562 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Tyra Biosciences by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 15,356 shares of the company’s stock worth $404,000 after acquiring an additional 725 shares during the period. Virtus Investment Advisers LLC lifted its holdings in shares of Tyra Biosciences by 6.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after acquiring an additional 741 shares during the period. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Tyra Biosciences during the 1st quarter worth about $30,000. 84.14% of the stock is owned by institutional investors.

About Tyra Biosciences

(Get Free Report)

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.

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