Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Down 31.8% in December

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 37,456 shares, a decline of 31.8% from the December 15th total of 54,931 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 25,838 shares, the short-interest ratio is currently 1.4 days. Based on an average daily volume of 25,838 shares, the short-interest ratio is currently 1.4 days. Currently, 2.2% of the shares of the company are short sold.

Lyra Therapeutics Trading Up 2.3%

NASDAQ LYRA traded up $0.05 on Friday, reaching $1.99. The company’s stock had a trading volume of 42,320 shares, compared to its average volume of 102,056. Lyra Therapeutics has a 52 week low of $1.63 and a 52 week high of $37.50. The firm has a market cap of $3.52 million, a PE ratio of -0.09 and a beta of 0.01. The business has a 50-day moving average price of $3.49 and a 200 day moving average price of $5.84.

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

Insiders Place Their Bets

In other Lyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 31,810 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $3.90, for a total value of $124,059.00. Following the sale, the insider owned 14,026 shares of the company’s stock, valued at $54,701.40. This trade represents a 69.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 118,736 shares of company stock worth $535,087. 3.25% of the stock is 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 acquired a new position in Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,484 shares of the company’s stock, valued at approximately $128,000. Citadel Advisors LLC owned approximately 1.10% of Lyra Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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).