Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Update

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,880,000 shares, a decrease of 13.4% from the February 13th total of 2,170,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On Lyra Therapeutics

Several hedge funds have recently modified their holdings of LYRA. ADAR1 Capital Management LLC acquired a new stake in shares of Lyra Therapeutics during the 4th quarter worth about $110,000. BNP Paribas Financial Markets purchased a new position in shares of Lyra Therapeutics during the 4th quarter worth about $51,000. State Street Corp lifted its holdings in shares of Lyra Therapeutics by 88.1% during the 3rd quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after acquiring an additional 228,900 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lyra Therapeutics by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock worth $183,000 after acquiring an additional 117,578 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Lyra Therapeutics by 56.2% during the 4th quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock worth $59,000 after acquiring an additional 103,026 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price target on shares of Lyra Therapeutics in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.50.

Lyra Therapeutics Trading Up 4.8 %

Shares of NASDAQ LYRA opened at $0.17 on Friday. The stock has a market cap of $10.98 million, a price-to-earnings ratio of -0.11 and a beta of -0.18. Lyra Therapeutics has a 52 week low of $0.14 and a 52 week high of $6.79. The company’s 50-day moving average price is $0.19 and its 200 day moving average price is $0.22.

Lyra Therapeutics (NASDAQ:LYRA) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.21 million. Lyra Therapeutics had a negative net margin of 6,635.76% and a negative return on equity of 125.07%. During the same period in the previous year, the company posted ($1.26) earnings per share. As a group, research analysts expect that Lyra Therapeutics will post -0.93 earnings per share for the current year.

Lyra Therapeutics Company Profile

Lyra Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose, and throat diseases. It's XTreo technology platform is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration.