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

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 42,622 shares, a growth of 157.8% from the February 26th total of 16,533 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average daily volume of 91,647 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Lyra Therapeutics

Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in Lyra Therapeutics by 33.7% in 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 in the last quarter. Artia Global Partners LP bought a new position in shares of Lyra Therapeutics in the 4th quarter valued at $27,000. DRW Securities LLC bought a new position in shares of Lyra Therapeutics in the 4th quarter valued at $52,000. Citadel Advisors LLC acquired a new stake in shares of Lyra Therapeutics during the 3rd quarter valued at $128,000. Finally, Sabby Management LLC boosted its holdings in shares of 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 acquiring an additional 47,534 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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 equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Lyra Therapeutics Price Performance

LYRA stock traded down $0.00 during midday trading on Friday, reaching $0.49. 4,089 shares of the company were exchanged, compared to its average volume of 105,444. Lyra Therapeutics has a one year low of $0.31 and a one year high of $37.50. The firm has a market capitalization of $870,105.00 and a price-to-earnings ratio of -0.02. The business has a 50-day moving average price of $1.36 and a two-hundred day moving average price of $3.68.

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).