Tyra Biosciences (NASDAQ:TYRA) Trading Down 4.5% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TYRA shares. Barclays started coverage on shares of Tyra Biosciences in a research report on Tuesday, January 27th. They set an “overweight” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. Jefferies Financial Group increased their price objective on shares of Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Finally, Wedbush raised their price objective on Tyra Biosciences from $37.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

Tyra Biosciences Stock Down 0.6%

The stock’s 50 day moving average is $32.41 and its 200-day moving average is $23.32. The company has a market cap of $1.96 billion, a PE ratio of -18.06 and a beta of 1.06.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TYRA. Caitong International Asset Management Co. Ltd bought a new stake in Tyra Biosciences during the fourth quarter worth approximately $79,000. Seven Fleet Capital Management LP bought a new stake in shares of Tyra Biosciences in the 4th quarter valued at approximately $2,092,000. Invesco Ltd. boosted its holdings in shares of Tyra Biosciences by 734.5% in the 4th quarter. Invesco Ltd. now owns 129,435 shares of the company’s stock worth $3,403,000 after purchasing an additional 113,925 shares during the period. VARCOV Co. bought a new position in shares of Tyra Biosciences during the 4th quarter valued at approximately $255,000. Finally, Virtus Investment Advisers LLC increased its position in shares of Tyra Biosciences by 6.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock valued at $309,000 after purchasing an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

About Tyra Biosciences

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.