Tyra Biosciences (NASDAQ:TYRA) Reaches New 52-Week Low – Here’s What Happened

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) hit a new 52-week low during mid-day trading on Thursday . The stock 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TYRA shares. UBS Group initiated coverage on Tyra Biosciences in a research note on Tuesday, January 7th. They set a “buy” rating and a $28.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Friday. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a research report on Tuesday, February 18th. Six investment 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 $30.83.

Tyra Biosciences Price Performance

The business has a 50-day moving average of $12.46 and a 200-day moving average of $16.36. The company has a market capitalization of $494.39 million, a P/E ratio of -6.07 and a beta of 1.09.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Thursday, March 27th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.05. Sell-side analysts predict that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Nina S. Kjellson sold 3,993 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total transaction of $65,325.48. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 21,998 shares of company stock valued at $344,818. 15.40% of the stock is currently owned by insiders.

Institutional Trading of Tyra Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in shares of Tyra Biosciences by 4.1% in the fourth quarter. Rhumbline Advisers now owns 26,202 shares of the company’s stock worth $364,000 after purchasing an additional 1,027 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Tyra Biosciences in the 4th quarter worth about $31,000. Bank of New York Mellon Corp increased its position in shares of Tyra Biosciences by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company’s stock worth $626,000 after acquiring an additional 2,221 shares during the period. Wells Fargo & Company MN raised its stake in shares of Tyra Biosciences by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,493 shares of the company’s stock valued at $132,000 after acquiring an additional 3,236 shares in the last quarter. Finally, US Bancorp DE purchased a new stake in shares of Tyra Biosciences in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors 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.