William Blair Lowers Lyra Therapeutics (NASDAQ:LYRA) to Market Perform

William Blair cut shares of Lyra Therapeutics (NASDAQ:LYRA) from an outperform rating to a market perform rating in a research note published on Monday, MarketBeat Ratings reports. William Blair also issued estimates for Lyra Therapeutics’ Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.31) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.27) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.22) EPS.

A number of other equities research analysts also recently commented on LYRA. Bank of America lowered their price objective on Lyra Therapeutics from $12.00 to $11.00 and set a buy rating for the company in a research report on Monday, March 25th. HC Wainwright reaffirmed a buy rating and set a $12.00 price objective on shares of Lyra Therapeutics in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of Lyra Therapeutics in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $7.13.

Lyra Therapeutics Price Performance

Lyra Therapeutics stock opened at $0.39 on Monday. The stock has a market capitalization of $23.77 million, a P/E ratio of -0.32 and a beta of 0.31. Lyra Therapeutics has a 12-month low of $0.36 and a 12-month high of $6.79. The firm’s 50-day moving average is $5.22 and its two-hundred day moving average is $4.61.

Lyra Therapeutics (NASDAQ:LYRA) last announced its earnings results 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). The firm had revenue of $0.53 million for the quarter, compared to analyst estimates of $0.40 million. Lyra Therapeutics had a negative return on equity of 77.34% and a negative net margin of 4,099.82%. As a group, analysts forecast that Lyra Therapeutics will post -1.28 EPS for the current year.

Institutional Trading of Lyra Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of LYRA. Vestal Point Capital LP acquired a new position in Lyra Therapeutics during the fourth quarter valued at approximately $15,720,000. Parkman Healthcare Partners LLC lifted its holdings in shares of Lyra Therapeutics by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock valued at $3,956,000 after acquiring an additional 129,829 shares in the last quarter. Citigroup Inc. purchased a new stake in Lyra Therapeutics during the 3rd quarter worth $265,000. Prescott Group Capital Management L.L.C. acquired a new stake in Lyra Therapeutics in the 3rd quarter valued at $117,000. Finally, Bank of New York Mellon Corp acquired a new stake in Lyra Therapeutics in the 3rd quarter valued at $73,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

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.