Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Update

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 37,456 shares, a drop of 31.8% from the December 15th total of 54,931 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 25,838 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 25,838 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.2% of the company’s shares are short sold.

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc sold 32,149 shares of Lyra Therapeutics stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $5.18, for a total transaction of $166,531.82. Following the sale, the insider directly owned 22,521 shares of the company’s stock, valued at approximately $116,658.78. This trade represents a 58.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 118,736 shares of company stock valued at $535,087 in the last ninety days. 3.25% of the stock is currently owned by company insiders.

Institutional Trading of Lyra Therapeutics

A hedge fund recently bought a new stake in Lyra Therapeutics stock. Citadel Advisors LLC acquired a new position in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

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

Lyra Therapeutics Price Performance

Shares of LYRA stock traded up $0.05 on Friday, reaching $1.99. 41,917 shares of the company were exchanged, compared to its average volume of 167,674. The company has a 50-day moving average of $3.55 and a 200-day moving average of $5.91. The company has a market cap of $3.52 million, a price-to-earnings ratio of -0.09 and a beta of 0.01. Lyra Therapeutics has a one year low of $1.63 and a one year high of $37.50.

Lyra Therapeutics (NASDAQ:LYRA) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($3.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.98) by $2.60. Lyra Therapeutics had a negative return on equity of 1,010.91% and a negative net margin of 5,491.17%.The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.21 million. As a group, sell-side analysts predict that Lyra Therapeutics will post -0.93 EPS for the current year.

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).