Tyra Biosciences (NASDAQ:TYRA) Sets New 1-Year Low - Here's What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $13.12 and last traded at $13.14, with a volume of 59641 shares. The stock had previously closed at $13.67.

Wall Street Analysts Forecast Growth

TYRA has been the topic of several analyst reports. Bank of America raised Tyra Biosciences from a "neutral" rating to a "buy" rating and lifted their target price for the company from $22.00 to $31.00 in a research report on Friday, October 18th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Monday, January 13th. UBS Group started coverage on shares of Tyra Biosciences in a report on Tuesday, January 7th. They set a "buy" rating and a $28.00 price target on the stock. Finally, Wedbush reiterated an "outperform" rating and issued a $28.00 price objective on shares of Tyra Biosciences in a research note on Friday, October 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $30.50.

Tyra Biosciences Price Performance

The stock's 50 day simple moving average is $15.05 and its two-hundred day simple moving average is $18.71. The stock has a market capitalization of $626.93 million, a PE ratio of -7.70 and a beta of 1.05.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.01). As a group, equities research analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 5,401 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $13.76, for a total transaction of $74,317.76. Following the sale, the director now directly owns 443,885 shares in the company, valued at approximately $6,107,857.60. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 21,998 shares of company stock worth $344,818. 15.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TYRA. Alta Partners Management Company L.P. purchased a new position in Tyra Biosciences during the fourth quarter valued at approximately $56,716,000. FMR LLC grew its position in shares of Tyra Biosciences by 0.8% during the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company's stock valued at $79,296,000 after purchasing an additional 26,187 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Tyra Biosciences in the third quarter worth $24,994,000. State Street Corp raised its position in shares of Tyra Biosciences by 4.4% in the third quarter. State Street Corp now owns 384,732 shares of the company's stock worth $9,045,000 after buying an additional 16,248 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Tyra Biosciences by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company's stock worth $8,667,000 after buying an additional 3,896 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company's stock.

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.