Lyra Therapeutics (NASDAQ:LYRA) Given Neutral Rating at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research report released on Friday,Benzinga reports. HC Wainwright currently has a $2.00 price objective on the stock.

Lyra Therapeutics Stock Down 1.7 %

Shares of LYRA stock opened at $0.17 on Friday. The company has a 50 day moving average price of $0.19 and a 200-day moving average price of $0.22. Lyra Therapeutics has a 52 week low of $0.16 and a 52 week high of $6.79. The firm has a market capitalization of $11.26 million, a PE ratio of -0.12 and a beta of -0.18.

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

Institutional Trading of Lyra Therapeutics

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Lyra Therapeutics by 161.8% in the fourth quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock worth $32,000 after acquiring an additional 96,681 shares during the period. BNP Paribas Financial Markets bought a new stake in Lyra Therapeutics during the fourth quarter valued at approximately $51,000. Northern Trust Corp grew its position in Lyra Therapeutics by 56.2% during the fourth 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 during the period. State Street Corp grew its position in Lyra Therapeutics by 88.1% during the third quarter. State Street Corp now owns 488,720 shares of the company’s stock valued at $126,000 after buying an additional 228,900 shares during the period. Finally, ADAR1 Capital Management LLC bought a new stake in Lyra Therapeutics during the fourth quarter valued at approximately $110,000. 95.62% of the stock is currently owned by institutional investors.

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.