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

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $22.56, but opened at $20.88. Tyra Biosciences shares last traded at $21.4210, with a volume of 37,450 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Friday, August 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Raymond James Financial began coverage on Tyra Biosciences in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $35.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $36.00 price objective on shares of Tyra Biosciences in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Tyra Biosciences Stock Down 7.3%

The company’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $12.36. The firm has a market capitalization of $1.12 billion, a PE ratio of -11.18 and a beta of 1.08.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Wednesday, November 5th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). Equities research analysts forecast that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling at Tyra Biosciences

In related news, Director Robert J. More sold 246,871 shares of Tyra Biosciences stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $20.25, for a total transaction of $4,999,137.75. Following the completion of the transaction, the director directly owned 3,833,425 shares of the company’s stock, valued at $77,626,856.25. This trade represents a 6.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its position in Tyra Biosciences by 586.3% during the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock valued at $30,000 after buying an additional 1,841 shares in the last quarter. US Bancorp DE raised its position in shares of Tyra Biosciences by 50.5% in the 1st quarter. US Bancorp DE now owns 5,435 shares of the company’s stock worth $51,000 after purchasing an additional 1,823 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Tyra Biosciences in the 1st quarter worth about $84,000. SG Americas Securities LLC purchased a new stake in Tyra Biosciences during the 3rd quarter valued at about $133,000. Finally, Russell Investments Group Ltd. raised its holdings in Tyra Biosciences by 27.7% in the third quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock worth $178,000 after buying an additional 2,766 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other 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.