HC Wainwright restated their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA – Free Report) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $2.00 price target on the stock.
Several other analysts have also recently issued reports on LYRA. Bank of America cut Lyra Therapeutics from a buy rating to an underperform rating in a research note on Tuesday, May 7th. Cantor Fitzgerald reiterated an overweight rating on shares of Lyra Therapeutics in a report on Thursday. Jefferies Financial Group cut shares of Lyra Therapeutics from a buy rating to a hold rating and dropped their target price for the stock from $10.00 to $0.50 in a research report on Tuesday, May 7th. William Blair cut shares of Lyra Therapeutics from an outperform rating to a market perform rating in a research report on Monday, May 6th. Finally, BTIG Research reissued a neutral rating on shares of Lyra Therapeutics in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $7.13.
Read Our Latest Research Report on LYRA
Lyra Therapeutics Price Performance
Hedge Funds Weigh In On Lyra Therapeutics
Several large investors have recently modified their holdings of the stock. Jump Financial LLC purchased a new stake in Lyra Therapeutics during the 4th quarter valued at about $88,000. Acadian Asset Management LLC bought a new position in shares of Lyra Therapeutics in the second quarter worth approximately $271,000. Parkman Healthcare Partners LLC grew its holdings in shares of Lyra Therapeutics by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock valued at $3,956,000 after buying an additional 129,829 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Lyra Therapeutics by 38.3% during the first quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after acquiring an additional 410,021 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new position in Lyra Therapeutics in the 4th quarter worth approximately $15,720,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.
About Lyra Therapeutics
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.
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