Perceptive Advisors Llc Sells 18,502 Shares of Lyra Therapeutics (NASDAQ:LYRA) Stock

Lyra Therapeutics, Inc. (NASDAQ:LYRA) major shareholder Perceptive Advisors Llc sold 18,502 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $4.54, for a total value of $83,999.08. Following the completion of the transaction, the insider directly owned 18,659 shares in the company, valued at approximately $84,711.86. This represents a 49.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Perceptive Advisors Llc also recently made the following trade(s):

• On Friday, November 7th, Perceptive Advisors Llc sold 19,739 shares of Lyra Therapeutics stock. The shares were sold at an average price of $4.75, for a total transaction of $93,760.25.
• On Thursday, November 6th, Perceptive Advisors Llc sold 32,149 shares of Lyra Therapeutics stock. The shares were sold at an average price of $5.18, for a total transaction of $166,531.82.

Lyra Therapeutics Stock Performance

LYRA stock opened at $4.24 on Wednesday. The company’s fifty day moving average price is $6.48 and its 200-day moving average price is $7.87. Lyra Therapeutics, Inc. has a one year low of $3.81 and a one year high of $37.50. The company has a market capitalization of $6.95 million, a PE ratio of -0.15 and a beta of 0.10.

Lyra Therapeutics (NASDAQ:LYRA) last posted its earnings results on Tuesday, August 12th. The company reported ($5.51) earnings per share for the quarter, beating the consensus estimate of ($5.79) by $0.28. The company had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $0.18 million. Lyra Therapeutics had a negative net margin of 5,043.64% and a negative return on equity of 404.56%. On average, research analysts predict that Lyra Therapeutics, Inc. will post -0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lyra Therapeutics stock. Bank of America Corp DE boosted its stake in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 33.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,542 shares of the company’s stock after acquiring an additional 7,190 shares during the quarter. Bank of America Corp DE owned about 1.74% of Lyra Therapeutics worth $256,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LYRA shares. HC Wainwright restated a “neutral” rating on shares of Lyra Therapeutics in a research report on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Lyra Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $100.00.

About Lyra Therapeutics

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.