Tyra Biosciences (NASDAQ:TYRA) Shares Down 7.3%

Tyra Biosciences, Inc. (NASDAQ:TYRA) traded down 7.3% on Thursday . The company traded as low as $14.79 and last traded at $14.84. 34,082 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 129,525 shares. The stock had previously closed at $16.00.

Analysts Set New Price Targets

TYRA has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target (up previously from $19.00) on shares of Tyra Biosciences in a research report on Wednesday, March 20th. Wedbush reiterated an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a research note on Thursday, March 21st.

Tyra Biosciences Stock Performance

The company’s 50 day moving average price is $17.53 and its 200-day moving average price is $14.84. The company has a market cap of $793.58 million, a PE ratio of -9.29 and a beta of 1.12.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.05). Equities research analysts expect that Tyra Biosciences, Inc. will post -1.89 EPS for the current year.

Insider Buying and Selling

In related news, COO Daniel Bensen sold 1,501 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $20.00, for a total value of $30,020.00. Following the completion of the transaction, the chief operating officer now directly owns 451,480 shares of the company’s stock, valued at approximately $9,029,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 15,816 shares of company stock valued at $298,165. Company insiders own 18.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TYRA. Wellington Management Group LLP lifted its holdings in shares of Tyra Biosciences by 18.5% during the 3rd quarter. Wellington Management Group LLP now owns 94,112 shares of the company’s stock worth $1,296,000 after acquiring an additional 14,676 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Tyra Biosciences by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,531 shares of the company’s stock worth $132,000 after purchasing an additional 2,417 shares during the period. Simplex Trading LLC raised its position in Tyra Biosciences by 198.1% in the 3rd quarter. Simplex Trading LLC now owns 2,009 shares of the company’s stock worth $27,000 after purchasing an additional 1,335 shares during the period. Corton Capital Inc. purchased a new position in Tyra Biosciences in the 3rd quarter worth $152,000. Finally, Bank of New York Mellon Corp raised its position in Tyra Biosciences by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 41,870 shares of the company’s stock worth $577,000 after purchasing an additional 1,074 shares during the period. 84.14% of the stock is owned by institutional investors.

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.