Tyra Biosciences (NASDAQ:TYRA) Hits New 1-Year Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group assumed coverage on shares of Tyra Biosciences in a research note on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.50.

Tyra Biosciences Stock Down 0.6 %

The stock’s 50 day moving average price is $13.77 and its 200-day moving average price is $17.30. The stock has a market capitalization of $547.52 million, a P/E ratio of -6.72 and a beta of 1.09.

Insider Activity at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 5,401 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $13.76, for a total transaction of $74,317.76. Following the completion of the sale, the director now owns 443,885 shares of the company’s stock, valued at $6,107,857.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 21,998 shares of company stock valued at $344,818 over the last 90 days. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. raised its holdings in shares of Tyra Biosciences by 2.1% in the fourth quarter. RA Capital Management L.P. now owns 10,637,290 shares of the company’s stock worth $147,858,000 after buying an additional 220,681 shares during the last quarter. Alta Partners Management Company L.P. acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth $56,716,000. FMR LLC increased its stake in shares of Tyra Biosciences by 0.8% in the third quarter. FMR LLC now owns 3,372,850 shares of the company’s stock worth $79,296,000 after acquiring an additional 26,187 shares during the period. Boxer Capital Management LLC acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth $28,185,000. Finally, Janus Henderson Group PLC increased its stake in shares of Tyra Biosciences by 63.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,746,320 shares of the company’s stock worth $24,291,000 after acquiring an additional 679,124 shares during the period. 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.