Tyra Biosciences (NASDAQ:TYRA) Downgraded by Zacks Investment Research to “Sell”

Tyra Biosciences (NASDAQ:TYRA – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Tyra Biosciences Inc. is a precision oncology company. It focused on developing purpose-built therapies to overcome tumor resistance and improve outcomes for patients with cancer. The company’s lead product candidate includes TYRA-300. Tyra Biosciences Inc. is based in CARLSBAD, Calif. “

Separately, Jefferies Financial Group upgraded Tyra Biosciences from a “hold” rating to a “buy” rating and dropped their target price for the company from $31.00 to $27.00 in a report on Tuesday, March 8th.

Shares of TYRA stock traded down $0.06 on Wednesday, hitting $8.26. 285 shares of the company’s stock were exchanged, compared to its average volume of 66,203. Tyra Biosciences has a 12 month low of $6.25 and a 12 month high of $31.36. The company has a 50 day moving average of $9.73 and a 200 day moving average of $13.91.

Tyra Biosciences (NASDAQ:TYRA – Get Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). As a group, equities research analysts anticipate that Tyra Biosciences will post -1.3 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Tyra Biosciences during the 4th quarter worth approximately $39,000. Citigroup Inc. increased its stake in shares of Tyra Biosciences by 619.3% in the 4th quarter. Citigroup Inc. now owns 3,165 shares of the company’s stock worth $45,000 after purchasing an additional 2,725 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Tyra Biosciences by 546.9% in the 4th quarter. Bank of America Corp DE now owns 5,725 shares of the company’s stock worth $80,000 after purchasing an additional 4,840 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Tyra Biosciences in the 4th quarter worth $94,000. Finally, Wells Fargo & Company MN bought a new position in shares of Tyra Biosciences during the 4th quarter valued at about $99,000. Institutional investors own 99.96% of the company’s stock.

Tyra Biosciences Company Profile (Get Rating)

Tyra Biosciences, Inc, a preclinical-stage biopharmaceutical company, focuses on developing therapies to overcome tumor resistance and enhance outcomes for patients with cancer. Its lead product candidate is TYRA-300, a selective inhibitor of fibroblast growth factor receptor (FGFR)3 for the treatment of muscle invasive bladder cancer.

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