Lyra Therapeutics (NASDAQ:LYRA) Earns “Neutral” Rating from BTIG Research

BTIG Research reaffirmed their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a report released on Monday, Benzinga reports.

LYRA has been the topic of a number of other reports. Bank of America reduced their target price on shares of Lyra Therapeutics from $12.00 to $11.00 and set a buy rating on the stock in a research report on Monday, March 25th. HC Wainwright reaffirmed a buy rating and set a $12.00 target price on shares of Lyra Therapeutics in a research report on Wednesday, May 1st. William Blair downgraded Lyra Therapeutics from an outperform rating to a market perform rating in a research report on Monday. Finally, Cantor Fitzgerald restated an overweight rating on shares of Lyra Therapeutics in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $7.13.

Lyra Therapeutics Price Performance

Shares of NASDAQ:LYRA opened at $0.39 on Monday. The business has a 50 day simple moving average of $5.22 and a two-hundred day simple moving average of $4.61. Lyra Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.79. The firm has a market capitalization of $23.77 million, a PE ratio of -0.32 and a beta of 0.31.

Lyra Therapeutics (NASDAQ:LYRA) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). Lyra Therapeutics had a negative net margin of 4,099.82% and a negative return on equity of 77.34%. The business had revenue of $0.53 million for the quarter, compared to analysts’ expectations of $0.40 million. Equities research analysts expect that Lyra Therapeutics will post -1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Heritage Wealth Management Inc. Texas bought a new stake in Lyra Therapeutics during the fourth quarter valued at about $52,000. Bank of New York Mellon Corp bought a new stake in shares of Lyra Therapeutics in the 3rd quarter valued at about $73,000. Jump Financial LLC purchased a new position in shares of Lyra Therapeutics in the 4th quarter worth approximately $88,000. Prescott Group Capital Management L.L.C. bought a new position in shares of Lyra Therapeutics during the 3rd quarter worth approximately $117,000. Finally, Citigroup Inc. purchased a new stake in Lyra Therapeutics during the third quarter valued at approximately $265,000. 95.62% of the stock is 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.