Lyra Therapeutics (NASDAQ:LYRA) Downgraded to Sell Rating by Wall Street Zen

Lyra Therapeutics (NASDAQ:LYRA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Lyra Therapeutics Stock Performance

NASDAQ:LYRA opened at $8.65 on Friday. Lyra Therapeutics has a fifty-two week low of $3.81 and a fifty-two week high of $37.50. The company has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $8.79. The company has a market capitalization of $11.50 million, a PE ratio of -0.14 and a beta of 0.24.

Lyra Therapeutics (NASDAQ:LYRA) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($6.00) EPS for the quarter, beating analysts’ consensus estimates of ($7.50) by $1.50. Lyra Therapeutics had a negative net margin of 6,711.39% and a negative return on equity of 295.52%. The company had revenue of $0.18 million for the quarter, compared to analyst estimates of $0.16 million. Research analysts predict that Lyra Therapeutics will post -0.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in Lyra Therapeutics in the fourth quarter worth approximately $51,000. Northern Trust Corp boosted its holdings in shares of Lyra Therapeutics by 56.2% during the 4th quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock worth $59,000 after buying an additional 103,026 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Lyra Therapeutics during the 4th quarter worth approximately $110,000. Geode Capital Management LLC increased its stake 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its position 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 valued at $32,000 after acquiring an additional 96,681 shares during the period. 95.62% of the stock is owned by institutional investors.

Lyra Therapeutics Company Profile

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.