Lyra Therapeutics (NASDAQ:LYRA) Given “Neutral” Rating at HC Wainwright

Lyra Therapeutics (NASDAQ:LYRA)‘s stock had its “neutral” rating reiterated by analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $2.00 price objective on the stock.

Lyra Therapeutics Stock Down 1.7 %

Shares of NASDAQ LYRA opened at $0.17 on Friday. The firm has a market cap of $11.26 million, a price-to-earnings ratio of -0.12 and a beta of -0.18. Lyra Therapeutics has a 52-week low of $0.16 and a 52-week high of $6.79. The business’s 50 day moving average is $0.19 and its two-hundred day moving average is $0.22.

Lyra Therapeutics (NASDAQ:LYRA) last announced its earnings results on Thursday, March 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations 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 firm earned ($1.26) EPS. Analysts anticipate that Lyra Therapeutics will post -0.93 EPS for the current fiscal year.

Institutional Trading of Lyra Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Lyra Therapeutics by 161.8% in the fourth quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock valued at $32,000 after acquiring an additional 96,681 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Lyra Therapeutics in the fourth quarter valued at $51,000. Northern Trust Corp raised its stake in shares of Lyra Therapeutics by 56.2% in the fourth quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock valued at $59,000 after acquiring an additional 103,026 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Lyra Therapeutics in the fourth quarter valued at $110,000. Finally, State Street Corp raised its stake in shares of Lyra Therapeutics by 88.1% in the third quarter. State Street Corp now owns 488,720 shares of the company’s stock valued at $126,000 after acquiring an additional 228,900 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

About Lyra Therapeutics

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.