Lyra Therapeutics’ (LYRA) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research note issued to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $2.00 target price on the stock.

Lyra Therapeutics Trading Down 1.7 %

NASDAQ:LYRA opened at $0.17 on Friday. Lyra Therapeutics has a 12 month low of $0.16 and a 12 month high of $6.79. The stock has a market cap of $11.26 million, a price-to-earnings ratio of -0.12 and a beta of -0.18. The company has a 50-day moving average price of $0.19 and a 200-day moving average price of $0.22.

Lyra Therapeutics (NASDAQ:LYRA) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $0.21 million. During the same period last year, the business earned ($1.26) earnings per share. Equities analysts forecast that Lyra Therapeutics will post -0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. State Street Corp lifted 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 valued at $126,000 after acquiring an additional 228,900 shares during the period. Northern Trust Corp increased its stake in Lyra Therapeutics by 56.2% during the 4th quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock valued at $59,000 after purchasing an additional 103,026 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Lyra Therapeutics during the 4th quarter valued at about $51,000. JPMorgan Chase & Co. increased its stake in Lyra Therapeutics by 161.8% during 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in Lyra Therapeutics by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock valued at $183,000 after purchasing an additional 117,578 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other 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.