Tyra Biosciences (NASDAQ:TYRA) Sets New 1-Year Low – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $9.86 and last traded at $10.11, with a volume of 41955 shares traded. The stock had previously closed at $10.24.

Analysts Set New Price Targets

Several analysts have issued reports on TYRA shares. UBS Group initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They set a “buy” rating and a $28.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tyra Biosciences has a consensus rating of “Buy” and an average target price of $30.50.

Tyra Biosciences Stock Down 1.6 %

The business has a fifty day moving average of $12.72 and a 200 day moving average of $16.49. The company has a market cap of $510.08 million, a P/E ratio of -6.26 and a beta of 1.09.

Insiders Place Their Bets

In related news, Director Nina S. Kjellson sold 3,993 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $16.36, for a total transaction of $65,325.48. Following the transaction, the director now owns 3,707,420 shares in the company, valued at $60,653,391.20. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 21,998 shares of company stock worth $344,818. 15.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TYRA. Charles Schwab Investment Management Inc. lifted its stake in shares of Tyra Biosciences by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 173,737 shares of the company’s stock valued at $4,085,000 after purchasing an additional 3,792 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Tyra Biosciences during the third quarter valued at $333,000. FMR LLC boosted its holdings in shares of Tyra Biosciences by 0.8% during the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company’s stock valued at $79,296,000 after buying an additional 26,187 shares in the last quarter. Ally Bridge Group NY LLC grew its position in shares of Tyra Biosciences by 2.0% in the 3rd quarter. Ally Bridge Group NY LLC now owns 270,075 shares of the company’s stock worth $6,349,000 after buying an additional 5,415 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Tyra Biosciences in the 3rd quarter worth about $593,000. Hedge funds and other 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.