Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Down 13.6% in February

Lyra Therapeutics, Inc. (NASDAQ:LYRAGet Free Report) was the target of a significant decrease in short interest during the month of February. As of February 29th, there was short interest totalling 160,200 shares, a decrease of 13.6% from the February 14th total of 185,400 shares. Based on an average daily trading volume, of 254,600 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On Lyra Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in Lyra Therapeutics by 368.9% during the third quarter. Tower Research Capital LLC TRC now owns 6,762 shares of the company’s stock valued at $26,000 after purchasing an additional 5,320 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Lyra Therapeutics by 813.9% in the 1st quarter. JPMorgan Chase & Co. now owns 7,759 shares of the company’s stock worth $31,000 after acquiring an additional 6,910 shares during the last quarter. Heritage Wealth Management Inc. Texas bought a new stake in shares of Lyra Therapeutics in the 4th quarter worth about $52,000. Goldman Sachs Group Inc. bought a new stake in shares of Lyra Therapeutics in the 4th quarter worth about $68,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Lyra Therapeutics in the 3rd quarter worth about $73,000. Institutional investors own 80.20% of the company’s stock.

Lyra Therapeutics Price Performance

Shares of NASDAQ LYRA opened at $5.93 on Monday. The firm has a fifty day moving average price of $5.19 and a 200-day moving average price of $4.30. Lyra Therapeutics has a 1 year low of $1.86 and a 1 year high of $6.51. The stock has a market cap of $311.70 million, a PE ratio of -4.15 and a beta of 0.20.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Lyra Therapeutics in a research note on Friday, January 12th.

Read Our Latest Research Report on LYRA

Lyra Therapeutics Company Profile

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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.

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