Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Update
by Doug Wharley · The Cerbat GemLyra Therapeutics, Inc. (NASDAQ:LYRA – Get Free Report) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 37,456 shares, a decline of 31.8% from the December 15th total of 54,931 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 25,838 shares, the short-interest ratio is currently 1.4 days. Based on an average daily trading volume, of 25,838 shares, the short-interest ratio is currently 1.4 days. Currently, 2.2% of the company’s stock are sold short.
Lyra Therapeutics Stock Up 2.3%
NASDAQ LYRA traded up $0.05 during trading hours on Friday, reaching $1.99. 41,917 shares of the company were exchanged, compared to its average volume of 167,674. The stock has a market capitalization of $3.52 million, a P/E ratio of -0.09 and a beta of 0.01. Lyra Therapeutics has a 1 year low of $1.63 and a 1 year high of $37.50. The business’s 50 day simple moving average is $3.55 and its 200-day simple moving average is $5.91.
Lyra Therapeutics (NASDAQ:LYRA – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($3.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.98) by $2.60. Lyra Therapeutics had a negative net margin of 5,491.17% and a negative return on equity of 1,010.91%. The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.21 million. As a group, sell-side analysts anticipate that Lyra Therapeutics will post -0.93 earnings per share for the current year.
Insider Transactions at Lyra Therapeutics
In related news, major shareholder Perceptive Advisors Llc sold 31,810 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $3.90, for a total value of $124,059.00. Following the completion of the sale, the insider directly owned 14,026 shares of the company’s stock, valued at approximately $54,701.40. This represents a 69.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 118,736 shares of company stock worth $535,087 in the last ninety days. Corporate insiders own 3.25% of the company’s stock.
Institutional Trading of Lyra Therapeutics
A hedge fund recently bought a new stake in Lyra Therapeutics stock. Citadel Advisors LLC purchased a new stake in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,484 shares of the company’s stock, valued at approximately $128,000. Citadel Advisors LLC owned about 1.10% of Lyra Therapeutics at the end of the most recent reporting period. 95.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $100.00.
Read Our Latest Analysis on Lyra Therapeutics
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).