Lyra Therapeutics’ (LYRA) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research note issued to investors on Thursday morning,Benzinga reports.

Separately, Wall Street Zen cut shares of Lyra Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, July 13th.

Lyra Therapeutics Stock Down 0.7%

Shares of NASDAQ:LYRA opened at $7.05 on Thursday. Lyra Therapeutics has a fifty-two week low of $3.81 and a fifty-two week high of $37.50. The firm has a 50-day simple moving average of $9.22 and a 200 day simple moving average of $8.39. The company has a market cap of $11.60 million, a PE ratio of -0.24 and a beta of 0.16.

Lyra Therapeutics (NASDAQ:LYRA) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($5.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.79) by $0.28. The business had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $0.18 million. Lyra Therapeutics had a negative net margin of 5,043.64% and a negative return on equity of 404.56%. As a group, research analysts forecast that Lyra Therapeutics will post -0.93 EPS for the current fiscal year.

Institutional Trading of Lyra Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYRA. BNP Paribas Financial Markets acquired a new stake in Lyra Therapeutics during the fourth quarter valued at approximately $51,000. Geode Capital Management LLC lifted its stake in Lyra Therapeutics by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock valued at $183,000 after purchasing an additional 117,578 shares during the last quarter. Northern Trust Corp lifted its stake in Lyra Therapeutics by 56.2% during the fourth quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock valued at $59,000 after purchasing an additional 103,026 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Lyra Therapeutics by 161.8% during the fourth quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock valued at $32,000 after purchasing an additional 96,681 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Lyra Therapeutics by 33.7% during the second quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock valued at $256,000 after purchasing an additional 7,190 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.