Insider Buying: Lyra Therapeutics, Inc. (NASDAQ:LYRA) Director Buys 3,500 Shares of Stock

Lyra Therapeutics, Inc. (NASDAQ:LYRAGet Rating) Director C Ann Merrifield acquired 3,500 shares of Lyra Therapeutics stock in a transaction on Friday, May 13th. The shares were bought at an average price of $4.81 per share, for a total transaction of $16,835.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $33,670. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

C Ann Merrifield also recently made the following trade(s):

  • On Monday, May 16th, C Ann Merrifield bought 328 shares of Lyra Therapeutics stock. The stock was bought at an average price of $5.00 per share, for a total transaction of $1,640.00.

Lyra Therapeutics stock opened at $5.31 on Wednesday. Lyra Therapeutics, Inc. has a 1 year low of $3.30 and a 1 year high of $9.98. The firm’s 50-day moving average is $5.08 and its 200-day moving average is $5.03.

Lyra Therapeutics (NASDAQ:LYRAGet Rating) last issued its earnings results on Wednesday, March 9th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.23). The business had revenue of $0.27 million for the quarter, compared to analysts’ expectations of $1.00 million. On average, research analysts expect that Lyra Therapeutics, Inc. will post -1.67 earnings per share for the current year.

LYRA has been the subject of several research analyst reports. Zacks Investment Research lowered Lyra Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, March 11th. William Blair reiterated an “outperform” rating on shares of Lyra Therapeutics in a report on Tuesday, May 10th.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Clearline Capital LP bought a new stake in Lyra Therapeutics in the fourth quarter valued at $283,000. Renaissance Technologies LLC acquired a new stake in shares of Lyra Therapeutics in the 4th quarter worth about $227,000. Pentwater Capital Management LP lifted its position in Lyra Therapeutics by 122.8% in the 4th 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 last quarter. Millennium Management LLC boosted its stake in Lyra Therapeutics by 29.4% during the 4th quarter. Millennium Management LLC now owns 152,934 shares of the company’s stock valued at $667,000 after purchasing an additional 34,776 shares during the period. Finally, Citadel Advisors LLC bought a new position in Lyra Therapeutics in the 2nd quarter worth about $156,000. 85.06% of the stock is currently owned by hedge funds and other institutional investors.

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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