Lyra Therapeutics (NASDAQ:LYRA) Shares Up 2.8% – What’s Next?

Lyra Therapeutics, Inc. (NASDAQ:LYRA) shares were up 2.8% during mid-day trading on Friday . The company traded as high as $1.90 and last traded at $1.82. Approximately 21,460 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 143,263 shares. The stock had previously closed at $1.77.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lyra Therapeutics in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $100.00.

Lyra Therapeutics Trading Up 2.8%

The firm’s fifty day moving average is $3.01 and its 200-day moving average is $5.16. The stock has a market capitalization of $3.22 million and a PE ratio of -0.08.

Lyra Therapeutics (NASDAQ:LYRA) last announced its earnings results on Wednesday, November 12th. The company reported ($3.38) earnings per share for the quarter, topping the consensus estimate of ($5.98) by $2.60. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.21 million. Lyra Therapeutics had a negative net margin of 5,491.17% and a negative return on equity of 1,010.91%. As a group, equities analysts predict that Lyra Therapeutics, Inc. will post -0.93 EPS for the current year.

Insiders Place Their Bets

In other Lyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 31,810 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $3.90, for a total value of $124,059.00. Following the sale, the insider owned 14,026 shares of the company’s stock, valued at $54,701.40. The trade was a 69.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 66,848 shares of company stock valued at $274,795. 3.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lyra Therapeutics

An institutional investor recently bought a new position in Lyra Therapeutics stock. Citadel Advisors LLC purchased a new position in Lyra Therapeutics, Inc. (NASDAQ:LYRA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,484 shares of the company’s stock, valued at approximately $128,000. Citadel Advisors LLC owned approximately 1.10% of Lyra Therapeutics as of its most recent SEC filing. 95.62% of the stock is owned by institutional investors and hedge funds.

Lyra Therapeutics Company Profile

Lyra Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing targeted drug delivery therapies for diseases of the ear, nose and throat (ENT). Leveraging its proprietary Therapeutic Drug Delivery (TDD) platform, the company designs bioresorbable, steroid-eluting implants that provide sustained, localized release of medication directly to affected tissue. This approach aims to improve patient outcomes by reducing the need for repeated administration and minimizing systemic side effects.

The company’s lead product candidate, LYR-210, is an implantable matrix that delivers the corticosteroid mometasone furoate over several months to treat chronic rhinosinusitis (CRS).