Lyra Therapeutics (NASDAQ:LYRA) Stock Price Up 0.2%

Lyra Therapeutics, Inc. (NASDAQ:LYRA)’s share price rose 0.2% during trading on Monday . The stock traded as high as $5.02 and last traded at $4.73. Approximately 302,755 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 310,654 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

LYRA has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Lyra Therapeutics in a research note on Friday, March 22nd. Bank of America dropped their price target on shares of Lyra Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Lyra Therapeutics in a research note on Friday, January 12th.

Lyra Therapeutics Stock Performance

The firm has a market capitalization of $282.57 million, a price-to-earnings ratio of -3.67 and a beta of 0.23. The firm has a fifty day moving average price of $5.55 and a 200 day moving average price of $4.65.

Lyra Therapeutics (NASDAQ:LYRA) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11. The firm had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $0.52 million. Lyra Therapeutics had a negative return on equity of 72.62% and a negative net margin of 4,023.11%. Research analysts predict that Lyra Therapeutics, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lyra Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of LYRA. Vestal Point Capital LP acquired a new position in shares of Lyra Therapeutics during the 4th quarter worth $15,720,000. Parkman Healthcare Partners LLC lifted its holdings in shares of Lyra Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock valued at $3,956,000 after purchasing an additional 129,829 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of Lyra Therapeutics in the third quarter valued at approximately $265,000. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Lyra Therapeutics in the third quarter valued at approximately $117,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Lyra Therapeutics during the 3rd quarter worth approximately $73,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

About Lyra Therapeutics

Lyra Therapeutics, Inc, a clinical-stage biotechnology 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.