Analysts Set Lyra Therapeutics, Inc. (NASDAQ:LYRA) Target Price at $4.50

Lyra Therapeutics, Inc. (NASDAQ:LYRA) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.50.

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday, August 15th. William Blair upgraded shares of Lyra Therapeutics to a “hold” rating in a report on Friday, August 30th. Finally, HC Wainwright restated a “neutral” rating and set a $2.00 target price on shares of Lyra Therapeutics in a research report on Thursday, August 15th.

Lyra Therapeutics Stock Performance

Shares of NASDAQ LYRA opened at $0.19 on Friday. The company’s fifty day moving average is $0.24 and its two-hundred day moving average is $0.28. The firm has a market capitalization of $12.44 million, a P/E ratio of -0.13 and a beta of -0.04. Lyra Therapeutics has a one year low of $0.16 and a one year high of $6.79.

Institutional Trading of Lyra Therapeutics

A number of hedge funds have recently bought and sold shares of LYRA. Vanguard Group Inc. increased its stake in shares of Lyra Therapeutics by 38.3% during the 1st quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after acquiring an additional 410,021 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Lyra Therapeutics during the second quarter worth approximately $271,000. Finally, State Street Corp raised its stake in Lyra Therapeutics by 88.1% during the third quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after purchasing an additional 228,900 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

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.