Tyra Biosciences (NASDAQ:TYRA) Sets New 52-Week Low – Should You Sell?

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) hit a new 52-week low during trading on Wednesday . The stock traded as low as $10.65 and last traded at $10.95, with a volume of 421036 shares changing hands. The stock had previously closed at $11.21.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Tuesday, February 18th. UBS Group assumed coverage on Tyra Biosciences in a report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $30.50.

Tyra Biosciences Stock Performance

The stock has a market capitalization of $559.67 million, a P/E ratio of -6.87 and a beta of 1.09. The business has a fifty day simple moving average of $14.04 and a 200-day simple moving average of $17.65.

Insiders Place Their Bets

In other Tyra Biosciences news, Director Nina S. Kjellson sold 5,401 shares of the stock in a transaction that occurred 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 approximately $6,107,857.60. This represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 21,998 shares of company stock worth $344,818. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in shares of Tyra Biosciences during the 4th quarter worth approximately $31,000. US Bancorp DE bought a new position in shares of Tyra Biosciences in the 4th quarter worth $50,000. BNP Paribas Financial Markets bought a new position in shares of Tyra Biosciences in the 4th quarter worth $60,000. Aquatic Capital Management LLC bought a new position in shares of Tyra Biosciences in the 4th quarter worth $64,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Tyra Biosciences by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 9,493 shares of the company’s stock worth $132,000 after purchasing an additional 3,236 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors.

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.