BNP Paribas Financial Markets Makes New Investment in Lyra Therapeutics, Inc. (NASDAQ:LYRA)

BNP Paribas Financial Markets acquired a new position in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 244,920 shares of the company’s stock, valued at approximately $51,000. BNP Paribas Financial Markets owned approximately 0.37% of Lyra Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LYRA. JPMorgan Chase & Co. raised its holdings in Lyra Therapeutics by 161.8% during the fourth quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock worth $32,000 after purchasing an additional 96,681 shares in the last quarter. Northern Trust Corp raised its holdings in Lyra Therapeutics by 56.2% during the fourth quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock worth $59,000 after purchasing an additional 103,026 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Lyra Therapeutics in the 4th quarter valued at $110,000. Finally, Geode Capital Management LLC increased its holdings in shares of Lyra Therapeutics by 15.3% in the 4th quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock valued at $183,000 after acquiring an additional 117,578 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Lyra Therapeutics Price Performance

Shares of Lyra Therapeutics stock opened at $27.58 on Wednesday. The firm’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $8.25. The stock has a market capitalization of $36.54 million, a price-to-earnings ratio of -18.51 and a beta of -0.01. Lyra Therapeutics, Inc. has a 12 month low of $3.81 and a 12 month high of $37.50.

Lyra Therapeutics (NASDAQ:LYRA) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($6.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.50) by $1.50. The company had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $0.16 million. Lyra Therapeutics had a negative net margin of 6,635.76% and a negative return on equity of 125.07%. Analysts anticipate that Lyra Therapeutics, Inc. will post -0.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LYRA shares. Wall Street Zen raised shares of Lyra Therapeutics to a “sell” rating in a report on Friday, May 30th. HC Wainwright reaffirmed a “neutral” rating and issued a $100.00 target price on shares of Lyra Therapeutics in a report on Friday, March 14th.

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.