Jennison Associates LLC Has $3.72 Million Stock Position in Tyra Biosciences, Inc. (NASDAQ:TYRA)

Jennison Associates LLC boosted its stake in shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 158,187 shares of the company’s stock after purchasing an additional 8,837 shares during the period. Jennison Associates LLC’s holdings in Tyra Biosciences were worth $3,719,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. HighVista Strategies LLC bought a new stake in shares of Tyra Biosciences during the 2nd quarter worth approximately $257,000. SG Americas Securities LLC bought a new stake in Tyra Biosciences during the third quarter worth $311,000. Rhumbline Advisers lifted its stake in Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after acquiring an additional 2,574 shares during the last quarter. Quest Partners LLC bought a new position in shares of Tyra Biosciences in the 3rd quarter valued at about $491,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Tyra Biosciences by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after purchasing an additional 14,352 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Trading Up 3.1 %

NASDAQ:TYRA opened at $15.83 on Friday. The stock has a 50 day simple moving average of $20.89 and a 200 day simple moving average of $19.89. Tyra Biosciences, Inc. has a 1-year low of $10.60 and a 1-year high of $29.60. The stock has a market cap of $801.00 million, a P/E ratio of -9.76 and a beta of 1.08.

Tyra Biosciences (NASDAQ:TYRA) last posted its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). As a group, sell-side analysts forecast that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Todd Harris sold 5,698 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $24.31, for a total transaction of $138,518.38. Following the transaction, the chief executive officer now directly owns 1,496,729 shares of the company’s stock, valued at approximately $36,385,481.99. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alan Fuhrman purchased 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $16.00 per share, with a total value of $152,000.00. Following the completion of the purchase, the chief financial officer now owns 12,849 shares of the company’s stock, valued at $205,584. This trade represents a 283.67 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 101,050 shares of company stock worth $2,235,492 in the last quarter. 15.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TYRA has been the subject of several recent analyst reports. Piper Sandler began coverage on shares of Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $28.00 target price on shares of Tyra Biosciences in a research note on Friday, October 25th. Oppenheimer increased their price target on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. HC Wainwright reduced their price objective on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the company from $22.00 to $31.00 in a research report on Friday, October 18th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tyra Biosciences has a consensus rating of “Buy” and an average target price of $31.00.

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.