Tyra Biosciences, Inc. (NASDAQ:TYRA) Short Interest Down 20.0% in October

Tyra Biosciences, Inc. (NASDAQ:TYRA) was the recipient of a large decrease in short interest in the month of 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. Approximately 6.1% of the shares of the company are sold short. Based on an average daily volume of 294,700 shares, the short-interest ratio is currently 6.0 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on TYRA. HC Wainwright reduced their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Wedbush reiterated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research note on Friday, October 25th. Piper Sandler assumed coverage on shares of Tyra Biosciences in a research note on Thursday, August 15th. They set an “overweight” rating and a $33.00 price objective for the company. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $22.00 to $31.00 in a report on Friday, October 18th. Finally, Oppenheimer lifted 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $31.00.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, CFO Alan Fuhrman purchased 9,500 shares of Tyra Biosciences stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $16.00 per share, for a total transaction of $152,000.00. Following the completion of the transaction, the chief financial officer now owns 12,849 shares of the company’s stock, valued at approximately $205,584. This trade represents a 283.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Todd Harris sold 10,092 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $24.13, for a total transaction of $243,519.96. Following the sale, the chief executive officer now owns 1,479,528 shares in the company, valued at $35,701,010.64. This represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,050 shares of company stock worth $2,235,492 in the last quarter. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in 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 acquiring an additional 140,833 shares during the period. American Century Companies Inc. grew its stake in Tyra Biosciences by 582.9% in the second quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after purchasing an additional 145,346 shares in the last quarter. Perceptive Advisors LLC raised its position in shares of 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 acquiring an additional 338,208 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Tyra Biosciences in the 2nd quarter valued at about $3,047,000. Finally, SG Americas Securities LLC bought a new position in shares of Tyra Biosciences during the third quarter valued at approximately $311,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Stock Performance

TYRA opened at $15.39 on Friday. The business’s 50-day simple moving average is $21.31 and its 200-day simple moving average is $19.97. The company has a market cap of $778.78 million, a P/E ratio of -9.56 and a beta of 1.08. Tyra Biosciences has a one year low of $10.60 and a one year high of $29.60.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data 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). As a group, 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.