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

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) was the recipient of a large growth in short interest in 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. Based on an average daily volume of 328,900 shares, the short-interest ratio is currently 7.7 days. Currently, 8.2% of the company's stock are sold short.

Tyra Biosciences Price Performance

Shares of TYRA traded down $0.63 during mid-day trading on Friday, hitting $14.07. The stock had a trading volume of 112,645 shares, compared to its average volume of 196,195. The firm has a market cap of $711.98 million, a P/E ratio of -8.74 and a beta of 1.01. Tyra Biosciences has a 52 week low of $11.24 and a 52 week high of $29.60. The business has a fifty day moving average price of $16.85 and a 200-day moving average price of $19.39.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.01). As a group, research analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Tyra Biosciences news, CEO Todd Harris sold 19,084 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $27.90, for a total value of $532,443.60. Following the completion of the sale, the chief executive officer now owns 1,355,927 shares in the company, valued at approximately $37,830,363.30. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alan Fuhrman bought 9,500 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the transaction, the chief financial officer now owns 12,849 shares in the company, valued at approximately $205,584. This represents a 283.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 84,660 shares of company stock valued at $1,839,047. Corporate insiders own 15.40% of the company's stock.

Institutional Trading of Tyra Biosciences

A number of institutional investors have recently modified their holdings of TYRA. Janus Henderson Group PLC bought a new stake in Tyra Biosciences during the 3rd quarter valued at $24,994,000. Perceptive Advisors LLC grew 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 buying an additional 338,208 shares in the last quarter. Ally Bridge Group NY LLC bought a new stake in shares of Tyra Biosciences during the second quarter valued at about $4,232,000. Ensign Peak Advisors Inc bought a new stake in shares of Tyra Biosciences during the second quarter valued at about $3,047,000. Finally, American Century Companies Inc. lifted its holdings 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 worth $2,723,000 after buying an additional 145,346 shares in the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

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.