Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 3.3%

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares dropped 3.3% during mid-day trading on Wednesday . The company traded as low as $19.42 and last traded at $19.55. Approximately 67,343 shares changed hands during trading, a decline of 49% from the average daily volume of 133,029 shares. The stock had previously closed at $20.22.

Analyst Ratings Changes

Several research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Tyra Biosciences in a research report on Wednesday, June 5th. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price objective (up previously from $25.00) on shares of Tyra Biosciences in a research report on Monday, May 13th. Finally, Wedbush reissued an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research report on Friday, May 10th.

Tyra Biosciences Price Performance

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -12.04 and a beta of 1.03. The firm has a fifty day simple moving average of $17.19 and a 200 day simple moving average of $16.09.

Tyra Biosciences (NASDAQ:TYRA) last announced its earnings results on Thursday, May 9th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.11. Analysts expect that Tyra Biosciences, Inc. will post -1.71 earnings per share for the current year.

Insider Buying and Selling

In other Tyra Biosciences news, COO Daniel Bensen sold 3,502 shares of Tyra Biosciences stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $70,040.00. Following the transaction, the chief operating officer now directly owns 427,981 shares of the company’s stock, valued at approximately $8,559,620. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TYRA. RA Capital Management L.P. grew its position in Tyra Biosciences by 43.9% during the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock worth $170,832,000 after buying an additional 3,180,155 shares in the last quarter. BVF Inc. IL increased its position in shares of Tyra Biosciences by 70.1% during the first quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock valued at $76,444,000 after purchasing an additional 1,921,599 shares during the period. Kynam Capital Management LP acquired a new position in shares of Tyra Biosciences in the fourth quarter valued at $4,712,000. Vanguard Group Inc. lifted its position in Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after purchasing an additional 140,833 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in Tyra Biosciences during the first quarter worth $977,000. Institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

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.