Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 4.7% – Should You Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares fell 4.7% during mid-day trading on Monday . The stock traded as low as $11.11 and last traded at $10.96. 29,593 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 293,406 shares. The stock had previously closed at $11.50.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TYRA. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Tuesday, February 18th. UBS Group began coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $30.50.

Tyra Biosciences Price Performance

The company has a market capitalization of $550.81 million, a price-to-earnings ratio of -6.76 and a beta of 1.09. The firm’s 50-day simple moving average is $13.55 and its two-hundred day simple moving average is $17.08.

Insider Buying and Selling

In other news, Director Nina S. Kjellson sold 3,993 shares of Tyra Biosciences stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total transaction of $65,325.48. Following the completion of the transaction, the director now owns 3,707,420 shares of the company’s stock, valued at $60,653,391.20. The trade was a 0.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 21,998 shares of company stock worth $344,818 in the last quarter. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. lifted its holdings in shares of Tyra Biosciences by 26.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 111,107 shares of the company’s stock valued at $1,544,000 after purchasing an additional 23,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tyra Biosciences by 41.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,635 shares of the company’s stock valued at $495,000 after buying an additional 10,426 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Tyra Biosciences during the 4th quarter valued at $13,761,000. Squarepoint Ops LLC acquired a new stake in Tyra Biosciences during the 4th quarter valued at $253,000. Finally, Two Sigma Advisers LP purchased a new position in Tyra Biosciences during the fourth quarter worth $171,000. 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.