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

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the recipient of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 16,533 shares, a decrease of 70.7% from the February 12th total of 56,490 shares. Based on an average trading volume of 33,406 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.0% of the company’s stock are sold short. Currently, 1.0% of the company’s stock are sold short. Based on an average trading volume of 33,406 shares, the days-to-cover ratio is presently 0.5 days.

Lyra Therapeutics Stock Performance

Shares of NASDAQ:LYRA traded up $0.03 during trading hours on Wednesday, hitting $1.33. The stock had a trading volume of 11,485 shares, compared to its average volume of 94,734. The stock’s fifty day simple moving average is $1.92 and its 200 day simple moving average is $4.22. The firm has a market capitalization of $2.35 million and a price-to-earnings ratio of -0.06. Lyra Therapeutics has a 1-year low of $0.91 and a 1-year high of $37.50.

Hedge Funds Weigh In On Lyra Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sabby Management LLC increased its stake in Lyra Therapeutics by 37.2% during the 4th quarter. Sabby Management LLC now owns 175,158 shares of the company’s stock valued at $539,000 after buying an additional 47,534 shares during the period. Citadel Advisors LLC bought a new stake in Lyra Therapeutics during the third quarter worth approximately $128,000. DRW Securities LLC acquired a new stake in Lyra Therapeutics in the fourth quarter worth approximately $52,000. Artia Global Partners LP bought a new position in Lyra Therapeutics during the 4th quarter valued at $27,000. Finally, Bank of America Corp DE increased its position in shares of Lyra Therapeutics by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock valued at $256,000 after purchasing an additional 7,190 shares during the period. Institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $100.00.

About Lyra Therapeutics

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).