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

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 1,880,000 shares, a decline of 13.4% from the February 13th total of 2,170,000 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is currently 1.5 days.

Lyra Therapeutics Stock Performance

NASDAQ LYRA traded down $0.00 on Wednesday, hitting $0.16. The stock had a trading volume of 765,289 shares, compared to its average volume of 1,881,091. The company has a market capitalization of $10.41 million, a price-to-earnings ratio of -0.11 and a beta of -0.18. Lyra Therapeutics has a 52-week low of $0.14 and a 52-week high of $6.79. The firm has a 50-day moving average of $0.19 and a 200-day moving average of $0.22.

Lyra Therapeutics (NASDAQ:LYRA) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Lyra Therapeutics had a negative net margin of 6,635.76% and a negative return on equity of 125.07%. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.21 million. During the same period in the prior year, the business posted ($1.26) EPS. As a group, research analysts anticipate that Lyra Therapeutics will post -0.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “neutral” rating and issued a $2.00 target price on shares of Lyra Therapeutics in a report on Friday, March 14th. One 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.50.

Hedge Funds Weigh In On Lyra Therapeutics

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Lyra Therapeutics by 161.8% during the fourth quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock worth $32,000 after purchasing an additional 96,681 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Lyra Therapeutics by 56.2% during the 4th quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock valued at $59,000 after buying an additional 103,026 shares in the last quarter. Geode Capital Management LLC lifted its position in Lyra Therapeutics by 15.3% in the 4th quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock worth $183,000 after buying an additional 117,578 shares during the last quarter. State Street Corp boosted its stake in Lyra Therapeutics by 88.1% in the third quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after buying an additional 228,900 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Lyra Therapeutics during the fourth quarter valued at approximately $51,000. 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.