Tyra Biosciences (NASDAQ:TYRA) Hits New 52-Week Low – Should You Sell?

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) reached a new 52-week low during trading on Thursday . The company traded as low as $13.12 and last traded at $13.14, with a volume of 59641 shares changing hands. The stock had previously closed at $13.67.

Analyst Upgrades and Downgrades

A number of research firms have commented on TYRA. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $22.00 to $31.00 in a research note on Friday, October 18th. UBS Group began coverage on shares of Tyra Biosciences in a research note on Tuesday, January 7th. They set a “buy” rating and a $28.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research note on Friday, October 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences presently has a consensus rating of “Buy” and an average price target of $30.50.

Tyra Biosciences Trading Down 2.5 %

The company has a market cap of $674.75 million, a price-to-earnings ratio of -8.31 and a beta of 1.05. The business has a fifty day moving average price of $15.17 and a two-hundred day moving average price of $18.85.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, analysts anticipate that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling

In related news, Director Nina S. Kjellson sold 3,993 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total value of $65,325.48. Following the transaction, the director now owns 3,707,420 shares in the company, valued at approximately $60,653,391.20. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 16,597 shares of company stock worth $270,500. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE acquired a new position in Tyra Biosciences during the fourth quarter valued at approximately $50,000. China Universal Asset Management Co. Ltd. acquired a new position in Tyra Biosciences during the fourth quarter valued at approximately $149,000. Franklin Resources Inc. acquired a new position in Tyra Biosciences during the third quarter valued at approximately $278,000. Valence8 US LP acquired a new position in Tyra Biosciences during the third quarter valued at approximately $310,000. Finally, SG Americas Securities LLC acquired a new position in Tyra Biosciences during the third quarter valued at approximately $311,000. Institutional investors and hedge funds 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.