Tyra Biosciences (NASDAQ:TYRA) Shares Down 5.1% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares fell 5.1% during mid-day trading on Friday . The stock traded as low as $29.40 and last traded at $29.32. 145,499 shares changed hands during trading, a decline of 78% from the average session volume of 670,453 shares. The stock had previously closed at $30.91.

Analyst Ratings Changes

Several research firms have weighed in on TYRA. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Wednesday. Wall Street Zen downgraded shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler boosted their price objective on shares of Tyra Biosciences from $33.00 to $42.00 and gave the company an “overweight” rating in a report on Friday. Finally, Wedbush raised their target price on Tyra Biosciences from $30.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Tyra Biosciences Stock Performance

The firm has a market cap of $1.62 billion, a PE ratio of -16.24 and a beta of 1.07. The stock has a 50 day simple moving average of $24.66 and a two-hundred day simple moving average of $16.82.

Tyra Biosciences (NASDAQ:TYRA) last posted its earnings results on Wednesday, November 5th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). Equities research analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Activity at Tyra Biosciences

In related news, Director Robert J. More sold 10,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the director directly owned 3,823,425 shares in the company, valued at $95,585,625. The trade was a 0.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several institutional investors and hedge funds have recently modified their holdings of TYRA. HighVista Strategies LLC increased its holdings in Tyra Biosciences by 4.3% in the 2nd quarter. HighVista Strategies LLC now owns 24,962 shares of the company’s stock worth $239,000 after acquiring an additional 1,021 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock worth $126,000 after purchasing an additional 1,668 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Tyra Biosciences by 586.3% in the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock worth $30,000 after buying an additional 1,841 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Tyra Biosciences by 27.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock worth $178,000 after buying an additional 2,766 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Tyra Biosciences by 23.1% during the second quarter. American Century Companies Inc. now owns 28,854 shares of the company’s stock valued at $276,000 after acquiring an additional 5,423 shares during the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

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.