Ally Bridge Group NY LLC Sells 67,819 Shares of Tyra Biosciences, Inc. $TYRA

Key Points

• Ally Bridge Group NY LLC has reduced its stake in Tyra Biosciences by 38.7%, now holding 107,244 shares, making it the firm's 25th largest holding.
• Tyra Biosciences reported an EPS of ($0.47) for the last quarter, surpassing analysts' expectations of ($0.53) by $0.06.
• Research analysts currently give Tyra Biosciences an average rating of "Buy" with a consensus price target of $30.83.

Ally Bridge Group NY LLC lessened its stake in shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 38.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,244 shares of the company's stock after selling 67,819 shares during the period. Tyra Biosciences makes up about 0.9% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 25th largest holding. Ally Bridge Group NY LLC owned 0.20% of Tyra Biosciences worth $997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TYRA. US Bancorp DE increased its position in Tyra Biosciences by 50.5% during the 1st quarter. US Bancorp DE now owns 5,435 shares of the company's stock valued at $51,000 after buying an additional 1,823 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Tyra Biosciences during the 4th quarter valued at approximately $60,000. Aquatic Capital Management LLC bought a new position in Tyra Biosciences during the 4th quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Tyra Biosciences during the 1st quarter valued at approximately $84,000. Finally, Exchange Traded Concepts LLC increased its position 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 buying an additional 3,550 shares in the last quarter. Institutional investors own 84.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TYRA. Raymond James Financial began coverage on Tyra Biosciences in a research report on Tuesday. They set a "strong-buy" rating and a $35.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Friday, August 22nd. Finally, Piper Sandler initiated coverage on Tyra Biosciences in a report on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $31.43.

Insider Activity

In other news, Director Gilla Kaplan sold 30,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $10.31, for a total value of $309,300.00. Following the transaction, the director directly owned 59,623 shares in the company, valued at $614,713.13. This trade represents a 33.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 61,392 shares of company stock valued at $628,358. Company insiders own 15.20% of the company's stock.

Tyra Biosciences Stock Up 4.2%

Shares of Tyra Biosciences stock traded up $0.51 on Friday, reaching $12.65. The company's stock had a trading volume of 230,201 shares, compared to its average volume of 219,947. The company has a market capitalization of $674.25 million, a price-to-earnings ratio of -7.11 and a beta of 1.10. Tyra Biosciences, Inc. has a 52 week low of $6.42 and a 52 week high of $29.60. The firm's fifty day simple moving average is $10.96 and its two-hundred day simple moving average is $10.28.

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