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

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares gapped down prior to trading on Wednesday . The stock had previously closed at $26.73, but opened at $18.94. Tyra Biosciences shares last traded at $20.4710, with a volume of 1,883,881 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TYRA. Bank of America lifted their target price on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of Tyra Biosciences in a research note on Friday, September 4th. Piper Sandler reaffirmed an “overweight” rating and set a $56.00 price objective on shares of Tyra Biosciences in a research report on Tuesday. Wolfe Research assumed coverage on Tyra Biosciences in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a report on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tyra Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $48.22.

Tyra Biosciences Stock Down 20.0%

The firm’s fifty day simple moving average is $28.85 and its 200-day simple moving average is $32.03. The firm has a market capitalization of $1.28 billion, a PE ratio of -8.89 and a beta of 0.73.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). As a group, analysts predict that Tyra Biosciences, Inc. will post -2.74 earnings per share for the current year.

Institutional Trading of Tyra Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jupiter Topco LLC purchased a new position in shares of Tyra Biosciences in the second quarter worth $139,161,000. BlackRock Inc. bought a new position in shares of Tyra Biosciences during the second quarter valued at $96,841,000. Commodore Capital LP boosted its position in shares of Tyra Biosciences by 226.3% during the second quarter. Commodore Capital LP now owns 3,100,000 shares of the company’s stock valued at $29,667,000 after buying an additional 2,150,000 shares during the last quarter. 5AM Venture Management LLC purchased a new stake in shares of Tyra Biosciences during the second quarter valued at $32,875,778. Finally, Janus Henderson Group PLC increased its holdings in Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock worth $148,867,000 after buying an additional 955,147 shares in the last quarter. 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.