Lyra Therapeutics (NASDAQ:LYRA) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research report report published on Thursday morning, Benzinga reports.

Other analysts also recently issued reports about the company. William Blair downgraded Lyra Therapeutics from an outperform rating to a market perform rating in a report on Monday, May 6th. Bank of America lowered shares of Lyra Therapeutics from a buy rating to an underperform rating in a research report on Tuesday, May 7th. Jefferies Financial Group lowered shares of Lyra Therapeutics from a buy rating to a hold rating and cut their target price for the stock from $10.00 to $0.50 in a research report on Tuesday, May 7th. HC Wainwright downgraded shares of Lyra Therapeutics from a buy rating to a neutral rating and lowered their price objective for the company from $12.00 to $2.00 in a research note on Tuesday, May 7th. Finally, BTIG Research restated a neutral rating on shares of Lyra Therapeutics in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $7.13.

Lyra Therapeutics Stock Performance

Shares of LYRA traded up $0.01 during trading hours on Thursday, reaching $0.30. The stock had a trading volume of 636,901 shares, compared to its average volume of 1,853,227. Lyra Therapeutics has a 12 month low of $0.25 and a 12 month high of $6.79. The stock has a market capitalization of $18.23 million, a PE ratio of -0.24 and a beta of -0.01. The company’s 50-day moving average is $0.29 and its two-hundred day moving average is $2.76.

Institutional Trading of Lyra Therapeutics

Large investors have recently bought and sold shares of the stock. Jump Financial LLC purchased a new stake in shares of Lyra Therapeutics in the 4th quarter valued at $88,000. Vestal Point Capital LP purchased a new position in Lyra Therapeutics during the fourth quarter valued at $15,720,000. Parkman Healthcare Partners LLC lifted its holdings in 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 purchasing an additional 129,829 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Lyra Therapeutics by 38.3% in the first quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock worth $9,215,000 after buying an additional 410,021 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Lyra Therapeutics in the second quarter worth about $271,000. 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.