Tyra Biosciences (NASDAQ:TYRA) Shares Down 6% – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price was down 6% during trading on Monday . The stock traded as low as $25.35 and last traded at $25.1950. Approximately 357,758 shares traded hands during trading, a decline of 27% from the average daily volume of 491,391 shares. The stock had previously closed at $26.79.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TYRA shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Tyra Biosciences from a “sell” rating to a “hold” rating in a report on Sunday. Wedbush increased their price objective on shares of Tyra Biosciences from $30.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Tyra Biosciences in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Tyra Biosciences Stock Performance

The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -16.11 and a beta of 1.07. The company has a 50-day simple moving average of $21.23 and a two-hundred day simple moving average of $15.17.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). As a group, sell-side analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert J. More sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 3,823,425 shares in the company, valued at approximately $95,585,625. This trade represents a 0.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HighVista Strategies LLC raised its stake 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 purchasing an additional 1,021 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Tyra Biosciences by 14.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock worth $126,000 after buying an additional 1,668 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Tyra Biosciences by 586.3% in the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock valued at $30,000 after buying an additional 1,841 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Tyra Biosciences by 7.2% during the 1st quarter. Rhumbline Advisers now owns 28,081 shares of the company’s stock worth $261,000 after acquiring an additional 1,879 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Tyra Biosciences by 27.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock valued at $178,000 after purchasing an additional 2,766 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors.

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.