Tyra Biosciences (NASDAQ:TYRA) Trading Down 3% Following Insider Selling

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) traded down 3% during trading on Monday following insider selling activity. The stock traded as low as $10.09 and last traded at $10.12. 51,715 shares traded hands during trading, a decline of 81% from the average session volume of 278,002 shares. The stock had previously closed at $10.43.

Specifically, Director Gilla Kaplan sold 6,814 shares of Tyra Biosciences stock in a transaction on Monday, June 16th. The shares were sold at an average price of $10.38, for a total transaction of $70,729.32. Following the completion of the sale, the director now directly owns 37,809 shares in the company, valued at approximately $392,457.42. The trade was a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gilla Kaplan sold 15,000 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $10.31, for a total value of $154,650.00. Following the completion of the transaction, the director now owns 44,623 shares of the company’s stock, valued at $460,063.13. This trade represents a 25.16% decrease in their position. The disclosure for this sale can be found here. In other Tyra Biosciences news, Director Gilla Kaplan sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $10.31, for a total transaction of $309,300.00. Following the sale, the director now owns 59,623 shares in the company, valued at approximately $614,713.13. The trade was a 33.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

TYRA has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research report on Monday, March 31st. Wedbush restated an “outperform” rating and set a $30.00 price objective on shares of Tyra Biosciences in a research note on Friday, March 28th. Finally, Piper Sandler began coverage on shares of Tyra Biosciences in a report on Wednesday, May 21st. They issued an “overweight” rating and a $33.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $30.83.

Tyra Biosciences Stock Down 6.2%

The firm has a market cap of $509.13 million, a price-to-earnings ratio of -5.88 and a beta of 1.07. The company’s 50-day moving average price is $9.67 and its 200-day moving average price is $11.87.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.02. Analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TYRA. Rhumbline Advisers lifted its stake in Tyra Biosciences by 4.1% during the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company’s stock worth $364,000 after acquiring an additional 1,027 shares in the last quarter. American Century Companies Inc. increased its stake in Tyra Biosciences by 5.8% during the 1st quarter. American Century Companies Inc. now owns 23,431 shares of the company’s stock worth $218,000 after buying an additional 1,289 shares during the period. US Bancorp DE lifted its holdings in Tyra Biosciences by 50.5% during the 1st quarter. US Bancorp DE now owns 5,435 shares of the company’s stock worth $51,000 after buying an additional 1,823 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Tyra Biosciences in the fourth quarter worth $31,000. Finally, Bank of New York Mellon Corp increased its position in shares of Tyra Biosciences by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company’s stock worth $626,000 after acquiring an additional 2,221 shares during the period. Institutional investors and hedge funds 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.