Tyra Biosciences (NASDAQ:TYRA) Reaches New 52-Week Low - Should You Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.91 and last traded at $12.13, with a volume of 432196 shares changing hands. The stock had previously closed at $12.39.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TYRA. UBS Group began coverage on Tyra Biosciences in a report on Tuesday, January 7th. They issued a "buy" rating and a $28.00 price target for the company. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Monday, January 13th. Wedbush reaffirmed an "outperform" rating and set a $28.00 target price on shares of Tyra Biosciences in a research note on Friday, October 25th. Finally, Bank of America raised Tyra Biosciences from a "neutral" rating to a "buy" rating and upped their target price for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $30.50.

Tyra Biosciences Stock Up 7.7 %

The stock has a market capitalization of $667.41 million, a PE ratio of -8.19 and a beta of 1.05. The company has a 50-day moving average of $14.74 and a 200 day moving average of $18.44.

Insider Buying and Selling at Tyra Biosciences

In other Tyra Biosciences news, Director Nina S. Kjellson sold 7,779 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $16.29, for a total value of $126,719.91. Following the completion of the sale, the director now directly owns 447,857 shares in the company, valued at $7,295,590.53. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 21,998 shares of company stock worth $344,818 in the last three months. 15.40% of the stock is owned by corporate insiders.

Institutional Trading of Tyra Biosciences

Several large investors have recently added to or reduced their stakes in TYRA. KLP Kapitalforvaltning AS purchased a new position in shares of Tyra Biosciences during the 4th quarter worth $31,000. US Bancorp DE purchased a new position in shares of Tyra Biosciences during the 4th quarter worth $50,000. Aquatic Capital Management LLC purchased a new position in shares of Tyra Biosciences during the 4th quarter worth $64,000. Wells Fargo & Company MN grew its holdings in shares of Tyra Biosciences by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 9,493 shares of the company's stock worth $132,000 after purchasing an additional 3,236 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Tyra Biosciences by 130,587.5% during the 4th quarter. Russell Investments Group Ltd. now owns 10,455 shares of the company's stock worth $145,000 after purchasing an additional 10,447 shares during the period. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Company Profile

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.