Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 10.2% – Time to Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price was down 10.2% during trading on Tuesday . The stock traded as low as $17.83 and last traded at $17.87. Approximately 403,603 shares changed hands during trading, an increase of 134% from the average daily volume of 172,190 shares. The stock had previously closed at $19.89.

Analysts Set New Price Targets

Several equities analysts recently commented on TYRA shares. Piper Sandler started coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target on the stock. HC Wainwright upped their price target on shares of Tyra Biosciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday. Wedbush restated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research note on Friday, October 25th. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Finally, Oppenheimer upped their target price on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Tyra Biosciences currently has an average rating of “Buy” and an average price target of $31.40.

Tyra Biosciences Stock Up 4.4 %

The stock’s 50 day moving average price is $22.61 and its 200-day moving average price is $19.89. The stock has a market capitalization of $880.80 million, a P/E ratio of -9.70 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. Analysts anticipate that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current year.

Insider Activity

In other Tyra Biosciences news, CEO Todd Harris sold 10,092 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total value of $243,519.96. Following the completion of the sale, the chief executive officer now directly owns 1,479,528 shares in the company, valued at $35,701,010.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 61,403 shares of company stock worth $1,582,774. Corporate insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Institutional investors have recently bought and sold shares of the company. HighVista Strategies LLC acquired a new stake in shares of Tyra Biosciences during the second quarter worth $257,000. SG Americas Securities LLC acquired a new stake in shares of Tyra Biosciences during the third quarter worth $311,000. Rhumbline Advisers lifted its stake in shares of Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after buying an additional 2,574 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after buying an additional 14,352 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Tyra Biosciences during the first quarter worth $977,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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.