Lyra Therapeutics, Inc. (NASDAQ:LYRA) Given Average Rating of “Hold” by Analysts

Lyra Therapeutics, Inc. (NASDAQ:LYRA) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.13.

LYRA has been the topic of a number of recent research reports. William Blair raised Lyra Therapeutics to a “hold” rating in a report on Friday, August 30th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a report on Thursday, August 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday, August 15th.

Lyra Therapeutics Stock Performance

NASDAQ LYRA opened at $0.28 on Monday. The stock has a market cap of $17.07 million, a PE ratio of -0.23 and a beta of -0.01. Lyra Therapeutics has a twelve month low of $0.25 and a twelve month high of $6.79. The firm has a 50-day simple moving average of $0.30 and a 200 day simple moving average of $2.04.

Lyra Therapeutics (NASDAQ:LYRA) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.05. The company had revenue of $0.60 million for the quarter, compared to the consensus estimate of $0.43 million. Lyra Therapeutics had a negative return on equity of 102.22% and a negative net margin of 5,570.88%. Research analysts forecast that Lyra Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LYRA. Jump Financial LLC bought a new position in Lyra Therapeutics in the 4th quarter worth approximately $88,000. Vestal Point Capital LP bought a new position in Lyra Therapeutics in the 4th quarter worth approximately $15,720,000. Parkman Healthcare Partners LLC raised its position in Lyra Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock worth $3,956,000 after purchasing an additional 129,829 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Lyra Therapeutics by 38.3% during the 1st 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 during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Lyra Therapeutics during the 2nd quarter valued at $271,000. Institutional investors own 95.62% of the company’s stock.

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.