Tyra Biosciences (NASDAQ:TYRA) Trading Down 4.7% – Time to Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares dropped 4.7% during mid-day trading on Monday . The stock traded as low as $11.11 and last traded at $10.96. Approximately 29,593 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 293,406 shares. The stock had previously closed at $11.50.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Tyra Biosciences in a research report on Tuesday, February 18th. UBS Group began coverage on Tyra Biosciences in a report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $30.50.

Tyra Biosciences Price Performance

The firm has a market cap of $550.56 million, a PE ratio of -6.76 and a beta of 1.09. The stock’s fifty day moving average price is $13.34 and its 200-day moving average price is $16.91.

Insider Transactions at Tyra Biosciences

In other news, Director Nina S. Kjellson sold 5,401 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $13.76, for a total transaction of $74,317.76. Following the completion of the sale, the director now owns 443,885 shares of the company’s stock, valued at $6,107,857.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 21,998 shares of company stock valued at $344,818 over the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TYRA. Alta Partners Management Company L.P. acquired a new position in shares of Tyra Biosciences during the 4th quarter valued at about $56,716,000. Boxer Capital Management LLC acquired a new position in shares of Tyra Biosciences during the 4th quarter valued at about $28,185,000. Janus Henderson Group PLC acquired a new position in shares of Tyra Biosciences during the 3rd quarter valued at about $24,994,000. Farallon Capital Management LLC acquired a new position in shares of Tyra Biosciences during the 4th quarter valued at about $13,914,000. Finally, Vestal Point Capital LP acquired a new position in shares of Tyra Biosciences during the 4th quarter valued at about $13,761,000. 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.