Tyra Biosciences, Inc. (NASDAQ:TYRA) Sees Significant Decrease in Short Interest

Tyra Biosciences, Inc. (NASDAQ:TYRA) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,760,000 shares, a decrease of 20.0% from the October 15th total of 2,200,000 shares. Based on an average daily trading volume, of 294,700 shares, the days-to-cover ratio is presently 6.0 days. Currently, 6.1% of the company’s stock are sold short.

Insider Buying and Selling at Tyra Biosciences

In other news, Director Nina S. Kjellson sold 11,078 shares of Tyra Biosciences stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.17, for a total value of $179,131.26. Following the completion of the transaction, the director now directly owns 472,207 shares of the company’s stock, valued at approximately $7,635,587.19. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Harris sold 5,698 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $24.31, for a total transaction of $138,518.38. Following the sale, the chief executive officer now directly owns 1,496,729 shares of the company’s stock, valued at approximately $36,385,481.99. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,050 shares of company stock worth $2,235,492 over the last quarter. 15.40% of the stock is owned by corporate insiders.

Institutional Trading of Tyra Biosciences

A number of institutional investors have recently made changes to their positions in TYRA. RA Capital Management L.P. increased its stake 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 acquiring an additional 3,180,155 shares during the period. BVF Inc. IL increased its position in shares of 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 period. FMR LLC raised its stake in shares of Tyra Biosciences by 0.8% in the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company’s stock worth $79,296,000 after buying an additional 26,187 shares in the last quarter. Janus Henderson Group PLC bought a new position in Tyra Biosciences during the third quarter valued at about $24,994,000. Finally, Perceptive Advisors LLC grew its holdings in Tyra Biosciences by 50.5% during the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after acquiring an additional 338,208 shares during the period. 84.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TYRA has been the subject of several recent research reports. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the company from $22.00 to $31.00 in a report on Friday, October 18th. Oppenheimer increased their target price on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Wedbush reissued an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a report on Friday, October 25th. HC Wainwright dropped their price objective on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Piper Sandler started coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, Tyra Biosciences presently has a consensus rating of “Buy” and an average price target of $31.00.

Tyra Biosciences Stock Performance

Shares of TYRA stock opened at $15.39 on Friday. Tyra Biosciences has a 1 year low of $10.60 and a 1 year high of $29.60. The firm has a market capitalization of $778.78 million, a PE ratio of -9.56 and a beta of 1.08. The stock has a fifty day moving average of $21.31 and a two-hundred day moving average of $19.95.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Equities research analysts predict that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

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.