Ally Bridge Group NY LLC Reduces Position in Tyra Biosciences, Inc. (NASDAQ:TYRA)

Ally Bridge Group NY LLC lessened its holdings in shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 35.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 175,063 shares of the company's stock after selling 95,012 shares during the period. Tyra Biosciences makes up approximately 2.0% of Ally Bridge Group NY LLC's holdings, making the stock its 24th largest position. Ally Bridge Group NY LLC owned 0.35% of Tyra Biosciences worth $2,433,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Alta Partners Management Company L.P. bought a new stake in shares of Tyra Biosciences during the fourth quarter valued at approximately $56,716,000. Boxer Capital Management LLC acquired a new position in Tyra Biosciences during the 4th quarter worth $28,185,000. Pictet Asset Management Holding SA acquired a new stake in Tyra Biosciences in the fourth quarter worth about $4,921,000. RA Capital Management L.P. raised its stake in shares of Tyra Biosciences by 2.1% during the fourth quarter. RA Capital Management L.P. now owns 10,637,290 shares of the company's stock worth $147,858,000 after buying an additional 220,681 shares during the last quarter. Finally, Nantahala Capital Management LLC bought a new position in shares of Tyra Biosciences in the 4th quarter worth $1,390,000. Institutional investors own 84.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wedbush reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Tyra Biosciences in a research note on Friday, March 28th. UBS Group started coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They set a "buy" rating and a $28.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Tyra Biosciences in a research note on Monday, March 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $30.83.

Insiders Place Their Bets

In related news, Director Nina S. Kjellson sold 5,401 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 443,885 shares of the company's stock, valued at approximately $6,107,857.60. This represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.40% of the company's stock.

Tyra Biosciences Price Performance

Shares of NASDAQ TYRA traded down $0.36 during mid-day trading on Monday, hitting $10.50. 124,353 shares of the stock traded hands, compared to its average volume of 253,850. Tyra Biosciences, Inc. has a twelve month low of $6.42 and a twelve month high of $29.60. The firm has a 50 day simple moving average of $9.77 and a two-hundred day simple moving average of $13.62. The company has a market cap of $557.45 million, a PE ratio of -6.52 and a beta of 1.17.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.05. On average, equities research analysts anticipate that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal 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.