Tyra Biosciences (NASDAQ:TYRA) Hits New 12-Month Low - Time to Sell?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $9.86 and last traded at $10.11, with a volume of 41955 shares changing hands. The stock had previously closed at $10.24.

Analysts Set New Price Targets

Several brokerages have weighed in on TYRA. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Monday. UBS Group started coverage on shares of Tyra Biosciences in a research note on Tuesday, January 7th. They issued a "buy" rating and a $28.00 price objective for the company. Finally, Wedbush reissued an "outperform" rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Friday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $30.83.

Tyra Biosciences Price Performance

The business has a 50-day moving average of $12.46 and a two-hundred day moving average of $16.30. The company has a market cap of $470.15 million, a P/E ratio of -5.74 and a beta of 1.09.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.43) earnings per share for the quarter, beating analysts' consensus estimates of ($0.48) by $0.05. Equities analysts anticipate that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

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Insiders Place Their Bets

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 transaction, the director now directly owns 443,885 shares in the company, valued at $6,107,857.60. The trade was a 1.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 21,998 shares of company stock valued at $344,818. 15.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several institutional investors have recently added to or reduced their stakes in TYRA. KLP Kapitalforvaltning AS acquired a new position in shares of Tyra Biosciences during the fourth quarter valued at about $31,000. US Bancorp DE acquired a new position in Tyra Biosciences during the 4th quarter valued at approximately $50,000. BNP Paribas Financial Markets purchased a new position in shares of Tyra Biosciences in the fourth quarter worth $60,000. Aquatic Capital Management LLC acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $64,000. Finally, Wells Fargo & Company MN grew 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 buying an additional 3,236 shares during the last quarter. Institutional investors and hedge funds 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.