Tyra Biosciences (NASDAQ:TYRA) Shares Down 5.1% – Should You Sell?

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) dropped 5.1% during mid-day trading on Friday . The company traded as low as $29.40 and last traded at $29.32. Approximately 145,499 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 670,453 shares. The stock had previously closed at $30.91.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Tyra Biosciences from $33.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday. Wedbush boosted their price objective on shares of Tyra Biosciences from $30.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Tyra Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, January 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Tyra Biosciences Stock Performance

The stock’s fifty day moving average is $24.36 and its two-hundred day moving average is $16.63. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -15.87 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA) last posted its earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). On average, equities research analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, Director Robert J. More sold 10,000 shares of Tyra Biosciences stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the sale, the director owned 3,823,425 shares of the company’s stock, valued at approximately $95,585,625. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its holdings in shares of Tyra Biosciences by 586.3% in the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock valued at $30,000 after acquiring an additional 1,841 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Tyra Biosciences in the third quarter valued at about $133,000. Russell Investments Group Ltd. increased its position in Tyra Biosciences by 27.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock valued at $178,000 after purchasing an additional 2,766 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after acquiring an additional 1,668 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Tyra Biosciences in the second quarter worth $177,000. Institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.