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

Key Points

• Tyra Biosciences experienced a dramatic increase in short interest, rising by 22,692.5% in July, reaching a total of 6,040,000 shares.
• Director Gilla Kaplan sold 30,000 shares at $10.31, reducing her stake by 33.47%; insiders sold a total of 61,392 shares valued at $628,358 last quarter.
• Several analysts reaffirmed a "buy" rating for Tyra Biosciences, with target prices ranging from $30.00 to $33.00, and the stock currently holds a consensus target price of $30.83.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 6,040,000 shares, agrowthof22,692.5% from the June 30th total of 26,500 shares. Based on an average daily trading volume, of 329,100 shares, the short-interest ratio is presently 18.4 days. Approximately18.5% of the company's shares are short sold. Approximately18.5% of the company's shares are short sold. Based on an average daily trading volume, of 329,100 shares, the short-interest ratio is presently 18.4 days.

Insiders Place Their Bets

In other Tyra Biosciences news, Director Gilla Kaplan sold 30,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $10.31, for a total value of $309,300.00. Following the sale, the director directly owned 59,623 shares in the company, valued at approximately $614,713.13. This trade represents a 33.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 61,392 shares of company stock valued at $628,358 in the last quarter. Corporate insiders own 15.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TYRA. KLP Kapitalforvaltning AS bought a new position in Tyra Biosciences in the fourth quarter valued at $31,000. US Bancorp DE grew its position in Tyra Biosciences by 50.5% in the first quarter. US Bancorp DE now owns 5,435 shares of the company's stock valued at $51,000 after purchasing an additional 1,823 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Tyra Biosciences in the fourth quarter valued at $60,000. Aquatic Capital Management LLC bought a new position in Tyra Biosciences in the fourth quarter valued at $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Tyra Biosciences in the first quarter valued at $84,000. Institutional investors own 84.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TYRA. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Tuesday, July 1st. Piper Sandler began coverage on shares of Tyra Biosciences in a report on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $30.83.

Tyra Biosciences Trading Down 5.1%

Shares of TYRA stock traded down $0.56 during trading hours on Friday, hitting $10.37. 283,932 shares of the company were exchanged, compared to its average volume of 313,482. The business has a 50 day moving average of $10.08 and a two-hundred day moving average of $10.83. Tyra Biosciences has a 52 week low of $6.42 and a 52 week high of $29.60. The company has a market capitalization of $550.54 million, a PE ratio of -6.36 and a beta of 1.07.

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, topping the consensus estimate of ($0.49) by $0.02. On average, research analysts forecast that Tyra Biosciences will post -1.57 EPS 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.

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