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 presently 1.2 days. Approximately 3.9% of the shares of the stock are sold short.

NASDAQ LYRA opened at $6.18 on Thursday. Lyra Therapeutics has a 52 week low of $3.30 and a 52 week high of $10.89. The stock has a market cap of $80.37 million, a price-to-earnings ratio of -1.84 and a beta of -0.18. The company has a 50-day moving average price of $4.97 and a two-hundred day moving average price of $5.28.

Lyra Therapeutics (NASDAQ:LYRAGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported ($1.05) earnings per share (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 analyst estimates of $1.00 million. As a group, equities research analysts anticipate that Lyra Therapeutics will post -3.43 earnings per share for the current year.

In related news, Director Edward T. Anderson acquired 118,483 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, for a total transaction of $499,998.26. Following the transaction, the director now directly owns 118,483 shares of the company’s stock, valued at approximately $499,998.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Harlan Waksal acquired 236,966 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The shares were bought at an average price of $4.22 per share, with a total value of $999,996.52. Following the completion of the transaction, the insider now directly owns 236,966 shares in the company, valued at $999,996.52. 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 90 days. Insiders own 16.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Close Asset Management Ltd purchased a new stake in Lyra Therapeutics in the 3rd quarter worth approximately $64,000. Virtu Financial LLC acquired a new position in Lyra Therapeutics in the 4th quarter valued at $57,000. Citadel Advisors LLC acquired a new position in Lyra Therapeutics in the 4th quarter valued at $58,000. Two Sigma Advisers LP grew its stake in Lyra Therapeutics by 31.8% in the 3rd quarter. Two Sigma Advisers LP now owns 58,000 shares of the company’s stock valued at $529,000 after buying an additional 14,000 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Lyra Therapeutics by 29.4% in the 4th quarter. Millennium Management LLC now owns 152,934 shares of the company’s stock valued at $667,000 after buying an additional 34,776 shares during the last quarter. Institutional investors own 51.08% of the company’s stock.

Separately, Zacks Investment Research cut shares of Lyra Therapeutics from a “hold” rating to a “sell” rating in a research report 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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