Tyra Biosciences (NASDAQ:TYRA) Shares Down 4.5% – What’s Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA) dropped 4.5% during mid-day trading on Monday . The stock traded as low as $8.96 and last traded at $9.54. Approximately 14,558 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 261,011 shares. The stock had previously closed at $9.99.

Analyst Upgrades and Downgrades

TYRA has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Tyra Biosciences in a research note on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Tyra Biosciences in a research report on Monday, March 31st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Tyra Biosciences currently has an average rating of “Buy” and a consensus target price of $30.83.

Tyra Biosciences Stock Down 2.1%

The firm’s 50 day simple moving average is $9.55 and its 200 day simple moving average is $12.81. The company has a market cap of $519.22 million, a price-to-earnings ratio of -6.07 and a beta of 1.17.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.02. Analysts anticipate that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Woodline Partners LP acquired a new position in Tyra Biosciences in the first quarter worth approximately $931,000. Goldman Sachs Group Inc. grew its position in Tyra Biosciences by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock worth $725,000 after buying an additional 13,896 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in Tyra Biosciences by 27.1% in the first quarter. Polar Asset Management Partners Inc. now owns 141,241 shares of the company’s stock worth $1,314,000 after buying an additional 30,134 shares during the last quarter. Millennium Management LLC boosted its stake in Tyra Biosciences by 28.2% in the 1st quarter. Millennium Management LLC now owns 404,165 shares of the company’s stock worth $3,759,000 after purchasing an additional 89,024 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Tyra Biosciences by 23.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 301,801 shares of the company’s stock worth $2,807,000 after purchasing an additional 57,556 shares during the period. Institutional investors and hedge funds 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.