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

Tyra Biosciences, Inc. (NASDAQ:TYRA) was the target of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 3,680,000 shares, an increase of 30.5% from the January 31st total of 2,820,000 shares. Currently, 11.9% of the company’s shares are short sold. Based on an average trading volume of 234,600 shares, the short-interest ratio is presently 15.7 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Tyra Biosciences in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $30.50.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, Director Nina S. Kjellson sold 5,401 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $13.76, for a total transaction of $74,317.76. Following the completion of the sale, the director now owns 443,885 shares of the company’s stock, valued at $6,107,857.60. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 21,998 shares of company stock worth $344,818 in the last quarter. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TYRA. Oppenheimer & Co. Inc. raised its position in Tyra Biosciences by 9.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 76,806 shares of the company’s stock valued at $1,806,000 after purchasing an additional 6,318 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Tyra Biosciences during the third quarter worth approximately $491,000. Jennison Associates LLC raised its holdings in Tyra Biosciences by 5.9% in the third quarter. Jennison Associates LLC now owns 158,187 shares of the company’s stock valued at $3,719,000 after acquiring an additional 8,837 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tyra Biosciences by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 173,737 shares of the company’s stock worth $4,085,000 after acquiring an additional 3,792 shares during the last quarter. Finally, Valence8 US LP purchased a new position in Tyra Biosciences in the third quarter valued at $310,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Stock Up 1.4 %

Tyra Biosciences stock opened at $11.10 on Thursday. Tyra Biosciences has a 52-week low of $10.65 and a 52-week high of $29.60. The firm has a market cap of $561.69 million, a PE ratio of -6.89 and a beta of 1.05. The company’s 50 day moving average is $14.10 and its two-hundred day moving average is $17.70.

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.