Alta Partners Management Company L.P. Buys Shares of 4,080,296 Tyra Biosciences, Inc. (NASDAQ:TYRA)

Alta Partners Management Company L.P. purchased a new position in Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,080,296 shares of the company's stock, valued at approximately $56,716,000. Tyra Biosciences makes up about 89.5% of Alta Partners Management Company L.P.'s holdings, making the stock its largest position. Alta Partners Management Company L.P. owned 8.06% of Tyra Biosciences at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. US Bancorp DE purchased a new position in Tyra Biosciences during the fourth quarter valued at $50,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Tyra Biosciences in the 4th quarter worth about $149,000. Franklin Resources Inc. purchased a new position in Tyra Biosciences during the 3rd quarter valued at about $278,000. Valence8 US LP bought a new stake in Tyra Biosciences during the third quarter worth about $310,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Tyra Biosciences in the third quarter worth about $333,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Stock Performance

Shares of NASDAQ:TYRA traded up $0.15 during trading on Wednesday, reaching $11.10. 310,299 shares of the stock traded hands, compared to its average volume of 265,507. The stock has a market cap of $561.69 million, a P/E ratio of -6.89 and a beta of 1.05. The stock has a 50-day moving average of $14.10 and a two-hundred day moving average of $17.70. Tyra Biosciences, Inc. has a 52-week low of $10.65 and a 52-week high of $29.60.

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Wall Street Analysts Forecast Growth

TYRA has been the subject of several recent research reports. UBS Group started coverage on shares of Tyra Biosciences in a report on Tuesday, January 7th. They set a "buy" rating and a $28.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Tyra Biosciences in a research note on Tuesday, February 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $30.50.

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, Director Nina S. Kjellson sold 3,993 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total value of $65,325.48. Following the completion of the transaction, the director now owns 3,707,420 shares of the company's stock, valued at approximately $60,653,391.20. The trade was a 0.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 21,998 shares of company stock valued at $344,818. 15.40% of the stock is owned by corporate insiders.

Tyra Biosciences 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.