Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Up 224.4% in April

Lyra Therapeutics, Inc. (NASDAQ:LYRAGet Rating) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 250,400 shares, a growth of 224.4% from the March 31st total of 77,200 shares. Based on an average daily volume of 209,900 shares, the short-interest ratio is currently 1.2 days. Currently, 3.9% of the shares of the stock are sold short.

In other news, major shareholder Nbvm Gp, Llc purchased 2,369,667 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The stock was purchased at an average cost of $4.22 per share, with a total value of $9,999,994.74. Following the acquisition, the insider now directly owns 1,855,443 shares of the company’s stock, valued at approximately $7,829,969.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward T. Anderson bought 118,483 shares of the company’s stock in a transaction on Tuesday, April 12th. The stock was bought at an average cost of $4.22 per share, with a total value of $499,998.26. Following the completion of the purchase, the director now owns 118,483 shares of the company’s stock, valued at approximately $499,998.26. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,725,116 shares of company stock valued at $11,499,990 over the last three months. 16.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of LYRA. Citadel Advisors LLC acquired a new position in Lyra Therapeutics during the second quarter valued at approximately $156,000. Close Asset Management Ltd acquired a new position in Lyra Therapeutics during the third quarter valued at approximately $64,000. Two Sigma Advisers LP grew its holdings in Lyra Therapeutics by 31.8% during the third quarter. Two Sigma Advisers LP now owns 58,000 shares of the company’s stock valued at $529,000 after purchasing an additional 14,000 shares during the period. Pentwater Capital Management LP grew its holdings in Lyra Therapeutics by 122.8% during the fourth quarter. Pentwater Capital Management LP now owns 71,313 shares of the company’s stock valued at $311,000 after purchasing an additional 39,299 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Lyra Therapeutics during the fourth quarter valued at approximately $227,000. Hedge funds and other institutional investors own 51.08% of the company’s stock.

Shares of NASDAQ LYRA opened at $6.18 on Thursday. Lyra Therapeutics has a 1-year low of $3.30 and a 1-year high of $10.89. The company has a market cap of $80.37 million, a PE ratio of -1.84 and a beta of -0.18. The company has a 50-day moving average of $4.97 and a two-hundred day moving average of $5.28.

Lyra Therapeutics (NASDAQ:LYRAGet Rating) last issued its quarterly earnings results on Wednesday, March 9th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.23). The firm had revenue of $0.27 million for the quarter, compared to the consensus estimate of $1.00 million. As a group, research analysts expect that Lyra Therapeutics will post -3.43 earnings per share for the current year.

Separately, Zacks Investment Research downgraded shares of Lyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, March 11th.

Lyra Therapeutics Company Profile (Get Rating)

Lyra Therapeutics, Inc, a clinical-stage therapeutics 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.

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