Lyra Therapeutics (NASDAQ:LYRA) Major Shareholder Perceptive Advisors Llc Sells 8,745 Shares

Lyra Therapeutics, Inc. (NASDAQ:LYRA) major shareholder Perceptive Advisors Llc sold 8,745 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $4.06, for a total transaction of $35,504.70. Following the transaction, the insider owned 17,239 shares of the company’s stock, valued at approximately $69,990.34. This represents a 33.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, November 13th, Perceptive Advisors Llc sold 31,810 shares of Lyra Therapeutics stock. The shares were sold at an average price of $3.90, for a total transaction of $124,059.00.
• On Tuesday, November 11th, Perceptive Advisors Llc sold 5,320 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.31, for a total transaction of $22,929.20.
• On Monday, November 10th, Perceptive Advisors Llc sold 18,502 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.54, for a total transaction of $83,999.08.
• On Friday, November 7th, Perceptive Advisors Llc sold 19,739 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.75, for a total value of $93,760.25.
• On Thursday, November 6th, Perceptive Advisors Llc sold 32,149 shares of Lyra Therapeutics stock. The stock was sold at an average price of $5.18, for a total value of $166,531.82.

Lyra Therapeutics Price Performance

NASDAQ:LYRA traded up $0.08 during trading hours on Friday, reaching $3.90. The company had a trading volume of 27,984 shares, compared to its average volume of 217,058. The business’s 50 day moving average price is $6.35 and its 200-day moving average price is $7.81. The firm has a market cap of $6.39 million, a PE ratio of -0.17 and a beta of 0.10. Lyra Therapeutics, Inc. has a 1-year low of $3.69 and a 1-year high of $37.50.

Lyra Therapeutics (NASDAQ:LYRA) last posted its earnings results on Wednesday, November 12th. The company reported ($3.38) earnings per share for the quarter, beating the consensus estimate of ($5.98) by $2.60. The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.21 million. Lyra Therapeutics had a negative return on equity of 566.15% and a negative net margin of 5,491.17%. On average, analysts expect that Lyra Therapeutics, Inc. will post -0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYRA has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Lyra Therapeutics in a report on Wednesday, October 8th. HC Wainwright restated a “neutral” rating on shares of Lyra Therapeutics in a report on Thursday, August 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $100.00.

Institutional Investors Weigh In On Lyra Therapeutics

An institutional investor recently raised its position in Lyra Therapeutics stock. Bank of America Corp DE grew its holdings in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 33.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,542 shares of the company’s stock after acquiring an additional 7,190 shares during the period. Bank of America Corp DE owned 1.74% of Lyra Therapeutics worth $256,000 as of its most recent SEC filing. 95.62% of the stock is owned by institutional investors and hedge funds.

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.