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

Lyra Therapeutics, Inc. (NASDAQ:LYRA) saw a significant decline in short interest during the month of 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. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 3.0% of the company’s stock are sold short.

Institutional Trading of Lyra Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of LYRA. JPMorgan Chase & Co. raised its position in Lyra Therapeutics by 161.8% in the 4th quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock valued at $32,000 after purchasing an additional 96,681 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Lyra Therapeutics in the 4th quarter valued at $51,000. Northern Trust Corp raised its position in Lyra Therapeutics by 56.2% during the 4th quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock worth $59,000 after buying an additional 103,026 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in Lyra Therapeutics during the 4th quarter worth $110,000. Finally, State Street Corp raised its position in Lyra Therapeutics by 88.1% during the 3rd quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after buying an additional 228,900 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Trading Up 4.8 %

LYRA stock opened at $0.17 on Friday. Lyra Therapeutics has a twelve month low of $0.14 and a twelve month high of $6.79. The company’s 50 day moving average is $0.19 and its two-hundred day moving average is $0.22. The stock has a market cap of $10.98 million, a P/E ratio of -0.11 and a beta of -0.18.

Lyra Therapeutics (NASDAQ:LYRA) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.16) 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 during the quarter, compared to analysts’ expectations of $0.21 million. During the same quarter last year, the company earned ($1.26) EPS. On average, equities research analysts predict that Lyra Therapeutics will post -0.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lyra Therapeutics currently has a consensus rating of “Hold” and an average price target of $4.50.

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.