Tyra Biosciences (NASDAQ:TYRA) Shares Gap Down – What’s Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA) gapped down before the market opened on Friday . The stock had previously closed at $28.61, but opened at $23.98. Tyra Biosciences shares last traded at $22.33, with a volume of 663,584 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TYRA. Wedbush restated an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a research note on Friday. Piper Sandler began coverage on Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price target for the company. Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.00 to $31.00 in a research report on Friday, October 18th. Oppenheimer raised their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, HC Wainwright lifted their price target on shares of Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $31.00.

Tyra Biosciences Stock Down 18.9 %

The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -13.89 and a beta of 1.01. The firm has a 50 day moving average of $22.88 and a 200 day moving average of $19.79.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. Equities analysts expect that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

Insider Transactions at Tyra Biosciences

In related news, CEO Todd Harris sold 10,092 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $24.13, for a total value of $243,519.96. Following the completion of the sale, the chief executive officer now directly owns 1,479,528 shares of the company’s stock, valued at $35,701,010.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 61,403 shares of company stock valued at $1,582,774 in the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TYRA. RA Capital Management L.P. grew its holdings in shares of Tyra Biosciences by 43.9% during the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after buying an additional 3,180,155 shares during the last quarter. BVF Inc. IL boosted its stake in Tyra Biosciences by 70.1% during the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock valued at $76,444,000 after purchasing an additional 1,921,599 shares during the last quarter. Perceptive Advisors LLC increased its holdings in Tyra Biosciences by 50.5% during the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after purchasing an additional 338,208 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in shares of Tyra Biosciences in the second quarter valued at approximately $4,232,000. Finally, Ensign Peak Advisors Inc bought a new position in shares of Tyra Biosciences in the second quarter valued at approximately $3,047,000. 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.