Tyra Biosciences, Inc. $TYRA Position Increased by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. increased its holdings in Tyra Biosciences by 27.1%, now owning 141,241 shares valued at approximately $1.31 million.
• Insider trading revealed that Director Gilla Kaplan sold 30,000 shares for approximately $309,300, marking a 33.47% decrease in their position.
• Analysts have issued positive ratings for Tyra Biosciences, with a consensus target price of $31.43 and several firms issuing "buy" and "strong-buy" ratings.

Polar Asset Management Partners Inc. boosted its stake in Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 27.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,241 shares of the company's stock after purchasing an additional 30,134 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.27% of Tyra Biosciences worth $1,314,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Tyra Biosciences in the fourth quarter valued at approximately $60,000. Two Sigma Advisers LP acquired a new stake in Tyra Biosciences during the 4th quarter worth approximately $171,000. Deutsche Bank AG increased its position in Tyra Biosciences by 52.0% during the 4th quarter. Deutsche Bank AG now owns 18,909 shares of the company's stock worth $263,000 after purchasing an additional 6,466 shares in the last quarter. Bank of America Corp DE increased its position in Tyra Biosciences by 21.7% during the 4th quarter. Bank of America Corp DE now owns 66,157 shares of the company's stock worth $920,000 after purchasing an additional 11,804 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Tyra Biosciences by 42.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 11,861 shares of the company's stock valued at $110,000 after purchasing an additional 3,550 shares in the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Price Performance

TYRA traded down $0.15 during trading hours on Friday, hitting $12.32. 58,074 shares of the stock were exchanged, compared to its average volume of 297,053. The stock has a 50-day simple moving average of $11.14 and a 200-day simple moving average of $10.28. Tyra Biosciences, Inc. has a 12 month low of $6.42 and a 12 month high of $29.60. The stock has a market cap of $656.44 million, a price-to-earnings ratio of -6.96 and a beta of 1.10.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.06. Sell-side analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insiders Place Their Bets

In other Tyra Biosciences news, Director Gilla Kaplan sold 9,568 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $9.78, for a total transaction of $93,575.04. Following the completion of the sale, the director owned 28,231 shares in the company, valued at $276,099.18. The trade was a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 16,392 shares of company stock worth $164,408 in the last three months. 15.20% of the stock is owned by insiders.

Analyst Ratings Changes

TYRA has been the topic of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Friday, August 22nd. Raymond James Financial initiated coverage on Tyra Biosciences in a research note on Tuesday, September 2nd. They set a "strong-buy" rating and a $35.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Tyra Biosciences in a research report on Wednesday. Finally, Piper Sandler initiated coverage on Tyra Biosciences in a research note on Wednesday, May 21st. They set an "overweight" rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat.com, Tyra Biosciences currently has an average rating of "Buy" and an average price target of $31.86.

Tyra Biosciences 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.