Lyra Therapeutics, Inc. (NASDAQ:LYRA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) have been given an average rating of “Hold” by the six brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $1.25.

Separately, HC Wainwright reissued a “neutral” rating and issued a $2.00 price objective on shares of Lyra Therapeutics in a research note on Friday, March 14th.

Institutional Trading of Lyra Therapeutics

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Lyra Therapeutics by 15.3% in the 4th quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock valued at $183,000 after buying an additional 117,578 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Lyra Therapeutics during the fourth quarter worth $110,000. State Street Corp grew its stake in shares of Lyra Therapeutics by 88.1% in the third quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after purchasing an additional 228,900 shares during the last quarter. Northern Trust Corp increased its holdings in Lyra Therapeutics by 56.2% in the fourth 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 during the period. Finally, BNP Paribas Financial Markets bought a new position in Lyra Therapeutics during the 4th quarter worth $51,000. 95.62% of the stock is owned by institutional investors and hedge funds.

Lyra Therapeutics Stock Performance

Lyra Therapeutics stock opened at $0.10 on Tuesday. Lyra Therapeutics has a 52 week low of $0.08 and a 52 week high of $5.77. The stock has a market capitalization of $6.73 million, a P/E ratio of -0.07 and a beta of 0.04. The stock has a fifty day moving average of $0.17 and a 200-day moving average of $0.20.

Lyra Therapeutics (NASDAQ:LYRA) last issued its earnings results on Thursday, March 13th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate 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 business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.21 million. During the same period in the previous year, the firm posted ($1.26) EPS. On average, research analysts forecast that Lyra Therapeutics will post -0.93 earnings per share for the current year.

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.