Lyra Therapeutics, Inc. (NASDAQ:LYRA) Sees Large Decline in Short Interest

Lyra Therapeutics, Inc. (NASDAQ:LYRA) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,840,000 shares, a drop of 16.4% from the November 30th total of 2,200,000 shares. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Lyra Therapeutics

A hedge fund recently bought a new stake in Lyra Therapeutics stock. Acadian Asset Management LLC acquired a new stake in Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 985,631 shares of the company’s stock, valued at approximately $271,000. Acadian Asset Management LLC owned about 1.62% of Lyra Therapeutics at the end of the most recent quarter. Institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Trading Up 5.5 %

Lyra Therapeutics stock traded up $0.01 during trading on Friday, hitting $0.19. The company had a trading volume of 1,789,166 shares, compared to its average volume of 1,696,279. The company’s 50 day simple moving average is $0.22 and its 200-day simple moving average is $0.26. Lyra Therapeutics has a 1-year low of $0.16 and a 1-year high of $6.79. The stock has a market cap of $12.47 million, a price-to-earnings ratio of -0.13 and a beta of -0.12.

Lyra Therapeutics Company Profile

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.