Lyra Therapeutics (NASDAQ:LYRA) Trading Up 0.3% – Time to Buy?

Lyra Therapeutics, Inc. (NASDAQ:LYRA)’s share price was up 0.3% on Friday . The stock traded as high as $3.70 and last traded at $3.59. Approximately 32,339 shares changed hands during trading, a decline of 4% from the average daily volume of 33,546 shares. The stock had previously closed at $3.58.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lyra Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $100.00.

Lyra Therapeutics Stock Up 0.3%

The company has a market cap of $6.35 million, a P/E ratio of -0.15 and a beta of -0.02. The stock has a 50 day moving average price of $4.38 and a two-hundred day moving average price of $6.77.

Lyra Therapeutics (NASDAQ:LYRA) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($3.38) EPS for the quarter, beating analysts’ consensus estimates of ($5.98) by $2.60. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.21 million. Lyra Therapeutics had a negative return on equity of 1,010.91% and a negative net margin of 5,491.17%. Equities analysts anticipate that Lyra Therapeutics, Inc. will post -0.93 EPS for the current year.

Insider Buying and Selling

In other Lyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 32,149 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $5.18, for a total transaction of $166,531.82. Following the transaction, the insider owned 22,521 shares in the company, valued at $116,658.78. This trade represents a 58.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 116,265 shares of company stock worth $526,784. 3.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lyra Therapeutics stock. Citadel Advisors LLC purchased a new stake in Lyra Therapeutics, Inc. (NASDAQ:LYRA) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,484 shares of the company’s stock, valued at approximately $128,000. Citadel Advisors LLC owned approximately 1.10% of Lyra Therapeutics as of its most recent SEC filing. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

About Lyra Therapeutics

Lyra Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing targeted drug delivery therapies for diseases of the ear, nose and throat (ENT). Leveraging its proprietary Therapeutic Drug Delivery (TDD) platform, the company designs bioresorbable, steroid-eluting implants that provide sustained, localized release of medication directly to affected tissue. This approach aims to improve patient outcomes by reducing the need for repeated administration and minimizing systemic side effects.

The company’s lead product candidate, LYR-210, is an implantable matrix that delivers the corticosteroid mometasone furoate over several months to treat chronic rhinosinusitis (CRS).