Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Update

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 42,622 shares, an increase of 157.8% from the February 26th total of 16,533 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 91,647 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 91,647 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LYRA. Artia Global Partners LP bought a new stake in Lyra Therapeutics in the fourth quarter worth $27,000. DRW Securities LLC bought a new stake in Lyra Therapeutics during the fourth quarter worth approximately $52,000. Citadel Advisors LLC bought a new stake in Lyra Therapeutics during the third quarter worth approximately $128,000. Bank of America Corp DE grew its holdings in Lyra Therapeutics by 33.7% during the second quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock valued at $256,000 after purchasing an additional 7,190 shares during the last quarter. Finally, Sabby Management LLC raised its position in shares of Lyra Therapeutics by 37.2% in the fourth quarter. Sabby Management LLC now owns 175,158 shares of the company’s stock valued at $539,000 after purchasing an additional 47,534 shares during the period. Institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Stock Performance

Shares of NASDAQ LYRA traded up $0.08 during trading hours on Wednesday, hitting $0.57. The stock had a trading volume of 5,291 shares, compared to its average volume of 108,967. The firm’s 50-day moving average price is $1.44 and its two-hundred day moving average price is $3.77. Lyra Therapeutics has a 52 week low of $0.31 and a 52 week high of $37.50. The company has a market capitalization of $1.01 million and a P/E ratio of -0.02.

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).