Tyra Biosciences (NASDAQ:TYRA) Shares Gap Down - What's Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $28.61, but opened at $23.98. Tyra Biosciences shares last traded at $22.33, with a volume of 663,584 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. HC Wainwright boosted their price target on Tyra Biosciences from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Wedbush reissued an "outperform" rating and issued a $28.00 target price on shares of Tyra Biosciences in a report on Friday. Oppenheimer lifted their price target on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. Piper Sandler assumed coverage on shares of Tyra Biosciences in a research note on Thursday, August 15th. They issued an "overweight" rating and a $33.00 price objective for the company. Finally, Bank of America raised shares of Tyra Biosciences from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Tyra Biosciences has an average rating of "Buy" and a consensus price target of $31.00.

Tyra Biosciences Price Performance

The company has a fifty day moving average price of $22.88 and a two-hundred day moving average price of $19.79. The company has a market capitalization of $1.16 billion, a P/E ratio of -13.89 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. As a group, sell-side analysts forecast that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current year.

Insider Activity at Tyra Biosciences

In related news, CEO Todd Harris sold 19,084 shares of the firm's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $27.90, for a total transaction of $532,443.60. Following the completion of the transaction, the chief executive officer now directly owns 1,355,927 shares of the company's stock, valued at $37,830,363.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 61,403 shares of company stock worth $1,582,774 over the last three months. Company insiders own 15.40% of the company's stock.

Institutional Trading of Tyra Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Tyra Biosciences in the 3rd quarter worth approximately $311,000. HighVista Strategies LLC acquired a new position in Tyra Biosciences in the second quarter valued at $257,000. Rhumbline Advisers boosted its position in Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company's stock valued at $377,000 after acquiring an additional 2,574 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company's stock valued at $929,000 after acquiring an additional 14,352 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Tyra Biosciences during the 1st quarter worth about $977,000. 84.14% of the stock is currently owned by 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.