Vestal Point Capital LP Buys 1,889,829 Shares of Tyra Biosciences, Inc. $TYRA

Key Points

• Vestal Point Capital LP significantly increased its stake in Tyra Biosciences by 190.9% during Q1, owning 2,879,829 shares valued at approximately $26.78 million.
• Tyra Biosciences received positive ratings from several analysts, with Piper Sandler setting a target price of $33.00 and HC Wainwright maintaining a "buy" rating with a target of $30.00.
• The company's stock opened at $12.67 and has experienced a one-year price range between $6.42 and $29.60, indicating significant volatility.

Vestal Point Capital LP increased its stake in Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 190.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,879,829 shares of the company's stock after purchasing an additional 1,889,829 shares during the period. Tyra Biosciences makes up approximately 1.9% of Vestal Point Capital LP's portfolio, making the stock its 18th biggest holding. Vestal Point Capital LP owned approximately 5.42% of Tyra Biosciences worth $26,782,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of Tyra Biosciences by 5.8% in the first quarter. American Century Companies Inc. now owns 23,431 shares of the company's stock worth $218,000 after purchasing an additional 1,289 shares during the last quarter. US Bancorp DE grew its position in Tyra Biosciences by 50.5% during the first quarter. US Bancorp DE now owns 5,435 shares of the company's stock valued at $51,000 after acquiring an additional 1,823 shares during the last quarter. Rhumbline Advisers grew its position in Tyra Biosciences by 7.2% during the first quarter. Rhumbline Advisers now owns 28,081 shares of the company's stock valued at $261,000 after acquiring an additional 1,879 shares during the last quarter. Wells Fargo & Company MN grew its position in Tyra Biosciences by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,493 shares of the company's stock valued at $132,000 after acquiring an additional 3,236 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Tyra Biosciences by 42.7% during the first quarter. Exchange Traded Concepts LLC now owns 11,861 shares of the company's stock valued at $110,000 after acquiring an additional 3,550 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TYRA. Piper Sandler began coverage on shares of Tyra Biosciences in a research report on Wednesday, May 21st. They set an "overweight" rating and a $33.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Tyra Biosciences in a research report on Friday, August 22nd. Finally, Raymond James Financial started coverage on shares of Tyra Biosciences in a report on Tuesday. They issued a "strong-buy" rating and a $35.00 target price on the stock. One 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, Tyra Biosciences has an average rating of "Buy" and a consensus target price of $31.43.

Insider Transactions at Tyra Biosciences

In related news, Director Gilla Kaplan sold 30,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $10.31, for a total value of $309,300.00. Following the transaction, the director owned 59,623 shares in the company, valued at $614,713.13. The trade was a 33.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 61,392 shares of company stock valued at $628,358. Insiders own 15.20% of the company's stock.

Tyra Biosciences Stock Up 4.2%

Shares of TYRA stock traded up $0.51 during mid-day trading on Friday, reaching $12.65. 230,201 shares of the company's stock traded hands, compared to its average volume of 219,947. Tyra Biosciences, Inc. has a 12 month low of $6.42 and a 12 month high of $29.60. The company has a market cap of $674.25 million, a P/E ratio of -7.11 and a beta of 1.10. The company's 50-day moving average price is $10.96 and its 200-day moving average price is $10.30.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.47) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.06. Equities analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

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.