Lyra Therapeutics, Inc. (NASDAQ:LYRA) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its holdings in Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,500 shares of the company’s stock after selling 74,800 shares during the quarter. Two Sigma Advisers LP owned 0.59% of Lyra Therapeutics worth $80,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Lyra Therapeutics in the fourth quarter worth approximately $51,000. JPMorgan Chase & Co. boosted its stake in shares of Lyra Therapeutics by 161.8% during the 4th quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock worth $32,000 after acquiring an additional 96,681 shares in the last quarter. Geode Capital Management LLC grew 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 worth $183,000 after acquiring an additional 117,578 shares during the last quarter. Northern Trust Corp raised its position in shares of 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 during the period. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Lyra Therapeutics during the fourth quarter worth $110,000. 95.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYRA has been the topic of several recent analyst reports. Wall Street Zen upgraded Lyra Therapeutics to a “sell” rating in a report on Friday, May 30th. HC Wainwright reissued a “neutral” rating and issued a $100.00 target price on shares of Lyra Therapeutics in a research report on Friday, March 14th.

Lyra Therapeutics Stock Down 4.1%

Shares of NASDAQ:LYRA opened at $24.28 on Monday. The company’s fifty day moving average is $6.91 and its two-hundred day moving average is $8.56. The company has a market cap of $32.17 million, a P/E ratio of -16.30 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 issued its quarterly earnings results on Tuesday, May 6th. The company reported ($6.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.50) by $1.50. The business had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.16 million. Lyra Therapeutics had a negative return on equity of 125.07% and a negative net margin of 6,635.76%. Equities research analysts anticipate that Lyra Therapeutics, Inc. will post -0.93 earnings per share for the current year.

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.