Tyra Biosciences (NASDAQ:TYRA) Sets New 1-Year Low - Time to Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.02 and last traded at $10.16, with a volume of 591743 shares. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group started coverage on Tyra Biosciences in a research note on Tuesday, January 7th. They issued a "buy" rating and a $28.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Tyra Biosciences in a research note on Tuesday, February 18th. 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 has a market cap of $581.93 million, a P/E ratio of -7.14 and a beta of 1.09. The company has a fifty day moving average of $13.63 and a 200 day moving average of $17.21.

Insider Activity

In other Tyra Biosciences news, Director Nina S. Kjellson sold 7,779 shares of Tyra Biosciences stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $16.29, for a total value of $126,719.91. Following the sale, the director now directly owns 447,857 shares in the company, valued at approximately $7,295,590.53. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 21,998 shares of company stock worth $344,818. Corporate insiders own 15.40% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in Tyra Biosciences by 4.1% in the fourth quarter. Rhumbline Advisers now owns 26,202 shares of the company's stock valued at $364,000 after buying an additional 1,027 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Tyra Biosciences during the fourth quarter valued at about $31,000. Bank of New York Mellon Corp boosted its holdings in Tyra Biosciences by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company's stock valued at $626,000 after acquiring an additional 2,221 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Tyra Biosciences by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,493 shares of the company's stock valued at $132,000 after purchasing an additional 3,236 shares during the last quarter. Finally, US Bancorp DE bought a new position in Tyra Biosciences during the fourth quarter valued at approximately $50,000. Institutional investors own 84.14% of the company's stock.

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.