Tyra Biosciences (NASDAQ:TYRA) Stock Breaks Below Fifty Day Moving Average After Earnings Miss

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) crossed below its 50-day moving average during trading on Tuesday following a dissappointing earnings announcement. The stock has a 50-day moving average of $22.04 and traded as low as $20.80. Tyra Biosciences shares last traded at $21.00, with a volume of 793,826 shares traded.

The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.07).

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. HC Wainwright dropped their price target on Tyra Biosciences from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Thursday, October 15th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective (down from $50.00) on shares of Tyra Biosciences in a research report on Tuesday, September 22nd. Wedbush reissued an “outperform” rating and set a $53.00 target price on shares of Tyra Biosciences in a research note on Thursday, September 10th. Finally, William Blair raised Tyra Biosciences to a “strong-buy” rating in a research note on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tyra Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

Institutional Investors Weigh In On Tyra Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its stake in Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock worth $148,867,000 after purchasing an additional 955,147 shares during the period. Jupiter Topco LLC bought a new position in Tyra Biosciences during the 2nd quarter worth about $139,161,000. BlackRock Inc. acquired a new stake in shares of Tyra Biosciences in the 2nd quarter valued at about $96,841,000. 5AM Venture Management LLC acquired a new stake in shares of Tyra Biosciences in the 2nd quarter valued at about $32,875,778. Finally, Jennison Associates LLC acquired a new stake in shares of Tyra Biosciences in the 1st quarter valued at about $24,222,000. 84.14% of the stock is owned by institutional investors.

Tyra Biosciences Stock Down 5.8%

The company has a market capitalization of $1.25 billion, a P/E ratio of -8.75 and a beta of 0.65. The business has a fifty day moving average price of $22.04 and a 200 day moving average price of $29.54.

About Tyra Biosciences

Tyra Biosciences, Inc. is a clinical-stage biopharmaceutical company developing precision medicines for genetically defined diseases. Its research focuses on small-molecule therapies that target the fibroblast growth factor receptor (FGFR) family and related pathways, using a drug-discovery approach designed to address resistance and selectivity challenges. The company’s pipeline includes TYRA-300, a selective FGFR3 inhibitor being studied for conditions including achondroplasia and urothelial cancer, and TYRA-200, an FGFR inhibitor being developed for certain cancers.