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

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TYRA. Bank of America upgraded 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 research note on Friday, October 18th. Wedbush restated an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a research report on Friday, October 25th. HC Wainwright lowered their price objective on Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Oppenheimer increased their price target on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Piper Sandler assumed coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $31.00.

Insider Buying and Selling

In other Tyra Biosciences news, Director Nina S. Kjellson sold 27,493 shares of Tyra Biosciences stock in a transaction on Friday, November 1st. The shares were sold at an average price of $16.56, for a total transaction of $455,284.08. Following the completion of the sale, the director now owns 458,506 shares of the company’s stock, valued at $7,592,859.36. This trade represents a 5.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Harris sold 19,084 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $27.90, for a total value of $532,443.60. Following the completion of the transaction, the chief executive officer now owns 1,355,927 shares in the company, valued at $37,830,363.30. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,050 shares of company stock valued at $2,235,492 over the last three months. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of TYRA. Vanguard Group Inc. raised its holdings in shares of Tyra Biosciences by 18.6% during the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after purchasing an additional 140,833 shares during the period. American Century Companies Inc. lifted its position in shares of Tyra Biosciences by 582.9% during the 2nd quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after buying an additional 145,346 shares in the last quarter. Perceptive Advisors LLC grew its stake in Tyra Biosciences by 50.5% in 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 period. Ensign Peak Advisors Inc bought a new stake in Tyra Biosciences in the second quarter worth about $3,047,000. Finally, SG Americas Securities LLC bought a new position in Tyra Biosciences during the third quarter valued at $311,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Tyra Biosciences Trading Down 5.8 %

Shares of TYRA opened at $15.39 on Friday. The firm’s 50 day moving average is $21.31 and its 200-day moving average is $19.97. The stock has a market capitalization of $778.78 million, a PE ratio of -9.56 and a beta of 1.08. Tyra Biosciences has a 12 month low of $10.60 and a 12 month high of $29.60.

Tyra Biosciences (NASDAQ:TYRA) last announced 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). Equities research analysts predict that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

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.