Tyra Biosciences (NASDAQ:TYRA) Trading Down 4.5% – Should You Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price fell 4.5% during trading on Monday . The company traded as low as $36.66 and last traded at $35.46. 152,089 shares were traded during mid-day trading, a decline of 84% from the average session volume of 948,026 shares. The stock had previously closed at $37.15.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on Tyra Biosciences in a report on Tuesday, February 24th. They issued an “overweight” rating on the stock. William Blair assumed coverage on shares of Tyra Biosciences in a report on Tuesday, February 10th. They issued an “outperform” rating on the stock. Piper Sandler lifted their price objective on shares of Tyra Biosciences from $42.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday. Barclays assumed coverage on shares of Tyra Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating for the company. Finally, HC Wainwright lifted their price target on Tyra Biosciences from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

Tyra Biosciences Trading Down 1.6%

The company has a market cap of $1.97 billion, a price-to-earnings ratio of -18.19 and a beta of 1.06. The business has a fifty day moving average of $32.11 and a two-hundred day moving average of $22.98.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.03). On average, research analysts forecast that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

A number of hedge funds have recently modified their holdings of TYRA. HighVista Strategies LLC grew its stake in shares of Tyra Biosciences by 163.6% in the 3rd quarter. HighVista Strategies LLC now owns 65,812 shares of the company’s stock valued at $921,000 after buying an additional 40,850 shares during the period. Commodore Capital LP lifted its stake in Tyra Biosciences by 8.9% during the third quarter. Commodore Capital LP now owns 3,375,000 shares of the company’s stock worth $47,216,000 after purchasing an additional 275,000 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Tyra Biosciences during the third quarter worth $2,612,000. Sio Capital Management LLC boosted its position in shares of Tyra Biosciences by 94.5% during the second quarter. Sio Capital Management LLC now owns 810,274 shares of the company’s stock worth $7,754,000 after buying an additional 393,657 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tyra Biosciences in the second quarter valued at $326,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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.