Tyra Biosciences (NASDAQ:TYRA) Stock Price Down 5.7%

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price was down 5.7% during trading on Wednesday . The company traded as low as $20.08 and last traded at $20.23. Approximately 41,813 shares were traded during trading, a decline of 71% from the average daily volume of 144,047 shares. The stock had previously closed at $21.45.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler started coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They set an “overweight” rating and a $33.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $23.00 price target on shares of Tyra Biosciences in a research report on Wednesday, July 3rd. Wedbush reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a report on Thursday, August 8th. Finally, Oppenheimer reduced their target price on Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Tyra Biosciences Stock Down 5.2 %

The firm has a market capitalization of $1.07 billion, a P/E ratio of -11.87 and a beta of 1.01. The business’s 50 day moving average is $20.64 and its 200-day moving average is $18.59.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. Research analysts forecast that Tyra Biosciences, Inc. will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. RA Capital Management L.P. raised its position in Tyra Biosciences by 43.9% in the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after purchasing an additional 3,180,155 shares during the last quarter. BVF Inc. IL raised its holdings in Tyra Biosciences by 70.1% in the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock valued at $76,444,000 after buying an additional 1,921,599 shares during the last quarter. Kynam Capital Management LP acquired a new stake in Tyra Biosciences during the 4th quarter worth approximately $4,712,000. Perceptive Advisors LLC increased its position in Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after acquiring an additional 338,208 shares during the period. Finally, Ally Bridge Group NY LLC acquired a new position in Tyra Biosciences in the 2nd quarter valued at approximately $4,232,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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.