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

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

Lyra Therapeutics Trading Up 10.2 %

Shares of LYRA stock traded up $0.02 during midday trading on Monday, reaching $0.21. 2,895,483 shares of the stock were exchanged, compared to its average volume of 1,700,873. The firm has a market cap of $13.75 million, a PE ratio of -0.14 and a beta of -0.12. The company’s 50 day moving average is $0.22 and its two-hundred day moving average is $0.26. Lyra Therapeutics has a 1 year low of $0.16 and a 1 year high of $6.79.

Hedge Funds Weigh In On Lyra Therapeutics

An institutional investor recently bought a new position in Lyra Therapeutics stock. Acadian Asset Management LLC bought a new position in Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 985,631 shares of the company’s stock, valued at approximately $271,000. Acadian Asset Management LLC owned 1.62% of Lyra Therapeutics at the end of the most recent reporting period. 95.62% of the stock is owned by institutional investors and hedge funds.

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.