Tyra Biosciences, Inc. (NASDAQ:TYRA) Short Interest Up 25.9% in December

Tyra Biosciences, Inc. (NASDAQ:TYRA) was the recipient of a large increase in short interest during the month of 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. Based on an average daily volume of 328,900 shares, the days-to-cover ratio is currently 7.7 days. Currently, 8.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

TYRA has been the topic of several recent research reports. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a research note on Friday, October 25th. HC Wainwright dropped their price target on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Oppenheimer raised their price objective 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. Finally, Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Tyra Biosciences has an average rating of “Buy” and an average target price of $31.00.

Insider Activity at Tyra Biosciences

In related news, CFO Alan Fuhrman acquired 9,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $16.00 per share, with a total value 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. The trade was a 283.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Todd Harris sold 15,394 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $25.85, for a total value of $397,934.90. Following the completion of the transaction, the chief executive officer now directly owns 1,418,647 shares in the company, valued at approximately $36,672,024.95. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,660 shares of company stock worth $1,839,047 in the last 90 days. 15.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Tyra Biosciences by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company’s stock valued at $8,667,000 after purchasing an additional 3,896 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Tyra Biosciences in the 3rd quarter valued at about $278,000. Barclays PLC increased its holdings in Tyra Biosciences by 200.5% during the 3rd quarter. Barclays PLC now owns 37,625 shares of the company’s stock valued at $884,000 after acquiring an additional 25,106 shares in the last quarter. State Street Corp increased its holdings in Tyra Biosciences by 4.4% during the 3rd quarter. State Street Corp now owns 384,732 shares of the company’s stock valued at $9,045,000 after acquiring an additional 16,248 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in Tyra Biosciences during the third quarter worth about $2,071,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

Tyra Biosciences Trading Down 4.3 %

Shares of TYRA traded down $0.63 during trading hours on Friday, reaching $14.07. The company had a trading volume of 112,645 shares, compared to its average volume of 196,195. Tyra Biosciences has a 12-month low of $11.24 and a 12-month high of $29.60. The firm has a 50 day simple moving average of $16.85 and a 200-day simple moving average of $19.39. The company has a market capitalization of $711.98 million, a price-to-earnings ratio of -8.74 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results 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). Sell-side analysts forecast that Tyra Biosciences will post -1.57 earnings per share for the current 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.