Lyra Therapeutics (NASDAQ:LYRA) Trading Up 0.3% – Should You Buy?

Lyra Therapeutics, Inc. (NASDAQ:LYRA)’s share price shot up 0.3% on Friday . The company traded as high as $3.70 and last traded at $3.59. 32,339 shares traded hands during trading, a decline of 4% from the average session volume of 33,546 shares. The stock had previously closed at $3.58.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lyra Therapeutics presently has an average rating of “Reduce” and a consensus price target of $100.00.

Lyra Therapeutics Stock Performance

The company has a market capitalization of $6.35 million, a P/E ratio of -0.15 and a beta of -0.02. The firm’s fifty day moving average is $4.38 and its 200-day moving average is $6.77.

Lyra Therapeutics (NASDAQ:LYRA) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($3.38) EPS for the quarter, beating the consensus estimate of ($5.98) by $2.60. Lyra Therapeutics had a negative net margin of 5,491.17% and a negative return on equity of 1,010.91%. The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.21 million. As a group, analysts expect that Lyra Therapeutics, Inc. will post -0.93 EPS for the current fiscal year.

Insider Activity at Lyra Therapeutics

In related news, major shareholder Perceptive Advisors Llc sold 32,149 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $5.18, for a total transaction of $166,531.82. Following the sale, the insider owned 22,521 shares of the company’s stock, valued at $116,658.78. This trade represents a 58.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 116,265 shares of company stock valued at $526,784. 3.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lyra Therapeutics

A hedge fund recently bought a new stake in Lyra Therapeutics stock. Citadel Advisors LLC bought a new position in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,484 shares of the company’s stock, valued at approximately $128,000. Citadel Advisors LLC owned about 1.10% of Lyra Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Company Profile

Lyra Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing targeted drug delivery therapies for diseases of the ear, nose and throat (ENT). Leveraging its proprietary Therapeutic Drug Delivery (TDD) platform, the company designs bioresorbable, steroid-eluting implants that provide sustained, localized release of medication directly to affected tissue. This approach aims to improve patient outcomes by reducing the need for repeated administration and minimizing systemic side effects.

The company’s lead product candidate, LYR-210, is an implantable matrix that delivers the corticosteroid mometasone furoate over several months to treat chronic rhinosinusitis (CRS).