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

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 5,100,000 shares, a growth of 17.2% from the April 30th total of 4,350,000 shares. Based on an average daily trading volume, of 319,800 shares, the short-interest ratio is currently 15.9 days. Approximately 16.0% of the company's shares are sold short.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new position in shares of Tyra Biosciences during the fourth quarter valued at approximately $149,000. Rhumbline Advisers raised its holdings in shares of Tyra Biosciences by 4.1% in the fourth quarter. Rhumbline Advisers now owns 26,202 shares of the company's stock worth $364,000 after buying an additional 1,027 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $626,000 after buying an additional 2,221 shares during the last quarter. US Bancorp DE acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth $50,000. Finally, Alta Partners Management Company L.P. acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth $56,716,000. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Price Performance

NASDAQ TYRA traded up $0.38 during mid-day trading on Friday, reaching $10.55. The stock had a trading volume of 194,217 shares, compared to its average volume of 272,302. Tyra Biosciences has a 1 year low of $6.42 and a 1 year high of $29.60. The stock has a market cap of $560.10 million, a PE ratio of -6.55 and a beta of 1.07. The company has a fifty day moving average price of $9.31 and a 200 day moving average price of $12.14.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.02. As a group, equities research analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TYRA has been the topic of a number of research reports. Wedbush reaffirmed an "outperform" rating and set a $30.00 price target on shares of Tyra Biosciences in a research note on Friday, March 28th. HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Tyra Biosciences in a report on Monday, March 31st. Finally, Piper Sandler initiated coverage on Tyra Biosciences in a research report on Wednesday, May 21st. They set an "overweight" rating and a $33.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $30.83.

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.