Tyra Biosciences (NASDAQ:TYRA) Trading Down 3% on Insider Selling

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares dropped 3% during mid-day trading on Monday following insider selling activity. The company traded as low as $10.09 and last traded at $10.12. Approximately 51,715 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 278,002 shares. The stock had previously closed at $10.43.

Specifically, Director Gilla Kaplan sold 6,814 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $10.38, for a total transaction of $70,729.32. Following the sale, the director now directly owns 37,809 shares in the company, valued at approximately $392,457.42. This represents a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilla Kaplan sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $10.31, for a total transaction of $154,650.00. Following the completion of the sale, the director now directly owns 44,623 shares in the company, valued at approximately $460,063.13. This trade represents a 25.16% decrease in their position. The disclosure for this sale can be found here. In other Tyra Biosciences news, Director Gilla Kaplan sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $10.31, for a total transaction of $309,300.00. Following the completion of the transaction, the director now owns 59,623 shares in the company, valued at $614,713.13. The trade was a 33.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

TYRA has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Tyra Biosciences in a report on Monday, March 31st. Piper Sandler initiated coverage on Tyra Biosciences in a report on Wednesday, May 21st. They issued an “overweight” rating and a $33.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Tyra Biosciences in a report on Friday, March 28th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tyra Biosciences has a consensus rating of “Buy” and a consensus price target of $30.83.

Tyra Biosciences Stock Performance

The firm’s 50-day moving average price is $9.67 and its two-hundred day moving average price is $11.87. The firm has a market cap of $509.13 million, a PE ratio of -5.88 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.02. As a group, sell-side analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in Tyra Biosciences by 4.1% in the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company’s stock valued at $364,000 after buying an additional 1,027 shares during the period. American Century Companies Inc. boosted its holdings in shares of Tyra Biosciences by 5.8% in the first quarter. American Century Companies Inc. now owns 23,431 shares of the company’s stock valued at $218,000 after acquiring an additional 1,289 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Tyra Biosciences by 50.5% in the first quarter. US Bancorp DE now owns 5,435 shares of the company’s stock valued at $51,000 after acquiring an additional 1,823 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Tyra Biosciences during the fourth quarter worth about $31,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Tyra Biosciences by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company’s stock worth $626,000 after acquiring an additional 2,221 shares during the period. 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.