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

Shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) rose 0.3% during trading on Friday . The stock traded as high as $3.70 and last traded at $3.59. Approximately 32,339 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 33,546 shares. The stock had previously closed at $3.58.

Wall Street Analyst Weigh In

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

Lyra Therapeutics Stock Up 0.3%

The firm has a 50 day moving average price of $4.38 and a 200 day moving average price of $6.71. The stock has a market cap of $6.37 million, a PE ratio of -0.15 and a beta of -0.02.

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, topping analysts’ consensus estimates of ($5.98) by $2.60. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.21 million. Lyra Therapeutics had a negative net margin of 5,491.17% and a negative return on equity of 1,010.91%. Equities analysts forecast that Lyra Therapeutics, Inc. will post -0.93 earnings per share for the current year.

Insider Buying and Selling at Lyra Therapeutics

In other news, major shareholder Perceptive Advisors Llc sold 31,810 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $3.90, for a total transaction of $124,059.00. Following the transaction, the insider directly owned 14,026 shares in the company, valued at approximately $54,701.40. This trade represents a 69.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 116,265 shares of company stock valued at $526,784. 3.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Lyra Therapeutics

A hedge fund recently bought a new stake in Lyra Therapeutics stock. Citadel Advisors LLC bought a new stake in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,484 shares of the company’s stock, valued at approximately $128,000. Citadel Advisors LLC owned approximately 1.10% of Lyra Therapeutics at the end of the most recent quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

About Lyra Therapeutics

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).