Tyra Biosciences (NASDAQ:TYRA) Reaches New 12-Month Low – Time to Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $10.02 and last traded at $10.16, with a volume of 591743 shares traded. The stock had previously closed at $10.94.

Analyst Ratings Changes

Several analysts have recently weighed in on TYRA shares. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Tuesday, February 18th. UBS Group started coverage on Tyra Biosciences in a research report on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $30.50.

Tyra Biosciences Price Performance

The firm has a fifty day moving average of $13.90 and a two-hundred day moving average of $17.46. The stock has a market capitalization of $514.13 million, a P/E ratio of -6.31 and a beta of 1.09.

Insider Activity at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 7,779 shares of Tyra Biosciences stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $16.29, for a total value of $126,719.91. Following the completion of the sale, the director now directly owns 447,857 shares in the company, valued at $7,295,590.53. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 21,998 shares of company stock worth $344,818 over the last three months. 15.40% of the stock is owned by corporate insiders.

Institutional Trading of Tyra Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in TYRA. Alta Partners Management Company L.P. bought a new stake in shares of Tyra Biosciences in the fourth quarter valued at about $56,716,000. Boxer Capital Management LLC purchased a new position in Tyra Biosciences in the fourth quarter valued at about $28,185,000. Janus Henderson Group PLC purchased a new position in Tyra Biosciences in the third quarter valued at about $24,994,000. Farallon Capital Management LLC purchased a new position in Tyra Biosciences in the fourth quarter valued at about $13,914,000. Finally, Vestal Point Capital LP purchased a new position in Tyra Biosciences in the fourth quarter valued at about $13,761,000. 84.14% of the stock is currently owned by institutional investors.

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.