Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 5.7%

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares traded down 5.7% during mid-day trading on Wednesday . The stock traded as low as $20.08 and last traded at $20.23. 41,813 shares were traded during trading, a decline of 71% from the average session volume of 144,047 shares. The stock had previously closed at $21.45.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TYRA shares. HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of Tyra Biosciences in a research report on Wednesday, July 3rd. Oppenheimer reduced their target price on shares of Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Thursday, August 8th. Finally, Piper Sandler began coverage on Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Tyra Biosciences Price Performance

The stock’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $18.61. The firm has a market cap of $1.12 billion, a PE ratio of -12.55 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. Analysts expect that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds have recently bought and sold shares of the stock. HighVista Strategies LLC acquired a new position in shares of Tyra Biosciences in the 2nd quarter valued at $257,000. Rhumbline Advisers raised its position in shares of Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after acquiring an additional 2,574 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Tyra Biosciences by 53.4% during the 4th quarter. Victory Capital Management Inc. now owns 50,220 shares of the company’s stock worth $696,000 after acquiring an additional 17,490 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Tyra Biosciences by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after acquiring an additional 14,352 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Tyra Biosciences in the 1st quarter valued at about $977,000. 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.