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

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

Analyst Upgrades and Downgrades

TYRA has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Wedbush reiterated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a report on Friday, October 25th. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $31.00 in a report on Friday, October 18th. Finally, HC Wainwright dropped their price objective on Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $31.00.

Read Our Latest Research Report on Tyra Biosciences

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, CFO Alan Fuhrman acquired 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Harris sold 10,035 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $24.31, for a total value of $243,950.85. Following the transaction, the chief executive officer now owns 1,467,338 shares in the company, valued at approximately $35,670,986.78. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,160 shares of company stock valued at $1,827,047. 15.40% of the stock is owned by corporate insiders.

Institutional Trading of Tyra Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. HighVista Strategies LLC acquired a new stake in Tyra Biosciences during the second quarter worth $257,000. Franklin Resources Inc. bought a new stake in Tyra Biosciences in the third quarter valued at about $278,000. Valence8 US LP acquired a new position in Tyra Biosciences in the third quarter worth about $310,000. SG Americas Securities LLC bought a new position in Tyra Biosciences during the third quarter worth about $311,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Tyra Biosciences during the third quarter valued at approximately $333,000. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Stock Down 1.2 %

NASDAQ TYRA traded down $0.17 during midday trading on Monday, hitting $13.90. The company had a trading volume of 125,509 shares, compared to its average volume of 195,783. The firm has a fifty day simple moving average of $16.85 and a two-hundred day simple moving average of $19.39. Tyra Biosciences has a fifty-two week low of $11.24 and a fifty-two week high of $29.60. The stock has a market cap of $703.38 million, a price-to-earnings ratio of -8.63 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRAGet Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). As a group, equities analysts predict that Tyra Biosciences will post -1.57 earnings per share for the current year.

About Tyra Biosciences

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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.

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