Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Up 54.1% in January

Lyra Therapeutics, Inc. (NASDAQ:LYRA) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 59,094 shares, a growth of 54.1% from the January 15th total of 38,347 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily trading volume, of 98,788 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 98,788 shares, the short-interest ratio is presently 0.6 days. Currently, 3.4% of the company’s stock are sold short.

Lyra Therapeutics Stock Performance

LYRA stock traded up $0.07 during midday trading on Monday, reaching $1.39. The company’s stock had a trading volume of 80,813 shares, compared to its average volume of 69,721. The firm has a market capitalization of $2.46 million and a price-to-earnings ratio of -0.06. The stock has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $4.89. Lyra Therapeutics has a 1 year low of $1.21 and a 1 year high of $37.50.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $100.00.

Hedge Funds Weigh In On Lyra Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. DRW Securities LLC purchased a new position in Lyra Therapeutics in the fourth quarter valued at about $52,000. Citadel Advisors LLC bought a new stake in Lyra Therapeutics in the third quarter valued at approximately $128,000. Finally, Bank of America Corp DE boosted its position in shares of Lyra Therapeutics by 33.7% during the second quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock worth $256,000 after purchasing an additional 7,190 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Lyra Therapeutics Company Profile

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).