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

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Nina S. Kjellson sold 5,401 shares of Tyra Biosciences stock in a transaction dated 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 transaction, the director now owns 443,885 shares in the company, valued at approximately $6,107,857.60. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 21,998 shares of company stock worth $344,818. Company insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its position in shares of Tyra Biosciences by 4.1% in the fourth quarter. Rhumbline Advisers now owns 26,202 shares of the company’s stock valued at $364,000 after buying an additional 1,027 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Tyra Biosciences in the fourth quarter valued at approximately $31,000. Bank of New York Mellon Corp raised its position in shares of Tyra Biosciences by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company’s stock valued at $626,000 after buying an additional 2,221 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Tyra Biosciences by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 9,493 shares of the company’s stock valued at $132,000 after buying an additional 3,236 shares in the last quarter. Finally, US Bancorp DE acquired a new position in Tyra Biosciences during the fourth quarter valued at approximately $50,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences Trading Down 4.3 %

NASDAQ TYRA opened at $11.21 on Tuesday. Tyra Biosciences has a 1-year low of $11.19 and a 1-year high of $29.60. The company has a 50 day moving average of $14.22 and a 200-day moving average of $17.85. The company has a market cap of $567.26 million, a price-to-earnings ratio of -6.96 and a beta of 1.05.

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.