Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 5.7%

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) traded down 5.7% on Wednesday . The stock traded as low as $20.08 and last traded at $20.23. 41,813 shares changed hands during trading, a decline of 71% from the average session volume of 144,047 shares. The stock had previously closed at $21.45.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TYRA shares. Oppenheimer dropped their price target on shares of Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $23.00 target price on shares of Tyra Biosciences in a research note on Wednesday, July 3rd. Piper Sandler initiated coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Tyra Biosciences presently has an average rating of “Moderate Buy” and an average price target of $24.80.

Tyra Biosciences Trading Up 3.4 %

The stock’s fifty day simple moving average is $20.78 and its 200 day simple moving average is $18.61. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -12.55 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. On average, analysts predict that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

Institutional Investors Weigh In On Tyra Biosciences

A number of hedge funds have recently modified their holdings of TYRA. Oppenheimer & Co. Inc. acquired a new position in Tyra Biosciences in the 1st quarter valued at about $977,000. Vanguard Group Inc. lifted its holdings in Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after acquiring an additional 140,833 shares during the last quarter. Kynam Capital Management LP purchased a new position in Tyra Biosciences in the fourth quarter worth approximately $4,712,000. Wellington Management Group LLP grew its position in Tyra Biosciences by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after acquiring an additional 8,324 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Tyra Biosciences by 53.4% during the fourth quarter. Victory Capital Management Inc. now owns 50,220 shares of the company’s stock worth $696,000 after acquiring an additional 17,490 shares during the last quarter. Hedge funds and other 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.