Short Interest in Lyra Therapeutics, Inc. (NASDAQ:LYRA) Grows By 54.1%

Lyra Therapeutics, Inc. (NASDAQ:LYRA) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 59,094 shares, a growth of 54.1% from the January 15th total of 38,347 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 98,788 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 98,788 shares, the short-interest ratio is presently 0.6 days. Currently, 3.4% of the shares of the stock are short sold.

Institutional Trading of Lyra Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Lyra Therapeutics by 33.7% during the second quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock valued at $256,000 after buying an additional 7,190 shares during the period. Citadel Advisors LLC purchased a new stake in Lyra Therapeutics in the third quarter worth $128,000. Finally, DRW Securities LLC bought a new stake in shares of Lyra Therapeutics during the fourth quarter worth $52,000. Institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

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

Lyra Therapeutics Stock Up 5.3%

NASDAQ LYRA traded up $0.07 during trading hours on Friday, hitting $1.39. 80,813 shares of the company were exchanged, compared to its average volume of 67,811. The stock has a market cap of $2.46 million and a PE ratio of -0.06. The stock has a 50-day moving average price of $2.74 and a 200 day moving average price of $4.92. Lyra Therapeutics has a 52 week low of $1.21 and a 52 week high of $37.50.

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

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).