Short Interest in Tyra Biosciences, Inc. (NASDAQ:TYRA) Drops By 20.0%

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,760,000 shares, a drop of 20.0% from the October 15th total of 2,200,000 shares. Based on an average daily trading volume, of 294,700 shares, the days-to-cover ratio is currently 6.0 days. Approximately 6.1% of the shares of the company are short sold.

Tyra Biosciences Price Performance

TYRA stock traded down $0.95 during mid-day trading on Friday, hitting $15.39. 708,856 shares of the company were exchanged, compared to its average volume of 193,869. Tyra Biosciences has a twelve month low of $10.60 and a twelve month high of $29.60. The firm has a fifty day simple moving average of $21.51 and a 200 day simple moving average of $19.98.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly 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, research analysts anticipate that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Tyra Biosciences

In related news, CEO Todd Harris sold 10,092 shares of Tyra Biosciences stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total value of $243,519.96. Following the completion of the transaction, the chief executive officer now owns 1,479,528 shares in the company, valued at $35,701,010.64. The trade was a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alan Fuhrman purchased 9,500 shares of the business'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 of the company's stock, valued at $205,584. This trade represents a 283.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 101,050 shares of company stock worth $2,235,492. 15.40% of the stock is owned by company insiders.

Institutional Trading of Tyra Biosciences

Several large investors have recently added to or reduced their stakes in TYRA. Rhumbline Advisers grew its holdings in Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company's stock valued at $377,000 after purchasing an additional 2,574 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tyra Biosciences by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 173,737 shares of the company's stock valued at $4,085,000 after acquiring an additional 3,792 shares during the period. Ally Bridge Group NY LLC increased its stake in Tyra Biosciences by 2.0% during the third quarter. Ally Bridge Group NY LLC now owns 270,075 shares of the company's stock valued at $6,349,000 after acquiring an additional 5,415 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Tyra Biosciences by 9.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 76,806 shares of the company's stock worth $1,806,000 after acquiring an additional 6,318 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Tyra Biosciences by 5.9% in the 3rd quarter. Jennison Associates LLC now owns 158,187 shares of the company's stock worth $3,719,000 after acquiring an additional 8,837 shares during the period. 84.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TYRA shares. Piper Sandler began coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They issued an "overweight" rating and a $33.00 price objective for the company. HC Wainwright reduced their target price on Tyra Biosciences from $32.00 to $30.00 and set a "buy" rating for the company in a report on Monday. Bank of America upgraded shares of Tyra Biosciences from a "neutral" rating to a "buy" rating and increased their price target for the company from $22.00 to $31.00 in a report on Friday, October 18th. Wedbush reissued an "outperform" rating and set a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, October 25th. Finally, Oppenheimer boosted their price target on Tyra Biosciences from $25.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $31.00.

About Tyra Biosciences

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.