Lyra Therapeutics (NASDAQ:LYRA) Major Shareholder Sells $93,760.25 in Stock

Lyra Therapeutics, Inc. (NASDAQ:LYRA) major shareholder Perceptive Advisors Llc sold 19,739 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $4.75, for a total value of $93,760.25. Following the completion of the transaction, the insider directly owned 20,528 shares in the company, valued at approximately $97,508. This represents a 49.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 value of $83,999.08.
• 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 transaction of $166,531.82.

Lyra Therapeutics Stock Down 4.3%

NASDAQ:LYRA traded down $0.20 during trading hours on Monday, hitting $4.41. 60,484 shares of the stock traded hands, compared to its average volume of 220,331. The company has a market cap of $7.23 million, a price-to-earnings ratio of -0.15 and a beta of 0.10. Lyra Therapeutics, Inc. has a 1 year low of $3.81 and a 1 year high of $37.50. The stock has a 50 day moving average price of $6.60 and a 200 day moving average price of $7.88.

Lyra Therapeutics (NASDAQ:LYRA) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($5.51) EPS for the quarter, beating the consensus estimate of ($5.79) by $0.28. The firm had revenue of $0.29 million for the quarter, compared to the consensus estimate of $0.18 million. Lyra Therapeutics had a negative net margin of 5,043.64% and a negative return on equity of 404.56%. Equities analysts forecast that Lyra Therapeutics, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lyra Therapeutics

An institutional investor recently raised its position in Lyra Therapeutics stock. Bank of America Corp DE raised its holdings in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 33.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,542 shares of the company’s stock after purchasing an additional 7,190 shares during the quarter. Bank of America Corp DE owned 1.74% of Lyra Therapeutics worth $256,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on LYRA shares. Wall Street Zen cut Lyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. HC Wainwright reaffirmed a “neutral” rating on shares of Lyra Therapeutics in a report on Thursday, August 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lyra Therapeutics presently has an average rating of “Reduce” and a consensus price target of $100.00.

About Lyra Therapeutics

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.