Short Interest in Tyra Biosciences, Inc. (NASDAQ:TYRA) Increases By 25.9%

Tyra Biosciences, Inc. (NASDAQ:TYRA) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,530,000 shares, a growth of 25.9% from the November 30th total of 2,010,000 shares. Currently, 8.2% of the company’s shares are short sold. Based on an average daily volume of 328,900 shares, the days-to-cover ratio is presently 7.7 days.

Insiders Place Their Bets

In other Tyra Biosciences news, CFO Alan Fuhrman purchased 9,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $16.00 per share, with a total value of $152,000.00. Following the completion of the transaction, the chief financial officer now directly owns 12,849 shares in the company, valued at $205,584. This trade represents a 283.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Harris sold 15,394 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $25.85, for a total transaction of $397,934.90. Following the completion of the transaction, the chief executive officer now owns 1,418,647 shares of the company’s stock, valued at $36,672,024.95. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,160 shares of company stock valued at $1,827,047. 15.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new stake in shares of Tyra Biosciences in the third quarter valued at approximately $24,994,000. Perceptive Advisors LLC lifted 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 valued at $16,108,000 after purchasing an additional 338,208 shares during the last quarter. Ally Bridge Group NY LLC acquired a new position in shares of Tyra Biosciences in the second quarter valued at $4,232,000. Ensign Peak Advisors Inc bought a new position in shares of Tyra Biosciences in the second quarter valued at about $3,047,000. Finally, American Century Companies Inc. raised its position in shares of Tyra Biosciences by 582.9% in the second quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock valued at $2,723,000 after purchasing an additional 145,346 shares during the period. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences Stock Down 1.2 %

TYRA stock opened at $13.90 on Tuesday. The company has a market cap of $703.38 million, a price-to-earnings ratio of -8.63 and a beta of 1.01. Tyra Biosciences has a twelve month low of $11.24 and a twelve month high of $29.60. The business has a 50 day moving average price of $16.56 and a two-hundred day moving average price of $19.35.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TYRA. Wedbush restated an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Friday, October 25th. Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.00 to $31.00 in a research note on Friday, October 18th. HC Wainwright decreased their price target on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, Oppenheimer boosted their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tyra Biosciences has an average rating of “Buy” and an average price target of $31.00.

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.