Perceptive Advisors Llc Sells 32,149 Shares of Lyra Therapeutics (NASDAQ:LYRA) Stock

Lyra Therapeutics, Inc. (NASDAQ:LYRA) major shareholder Perceptive Advisors Llc sold 32,149 shares of Lyra Therapeutics stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $5.18, for a total transaction of $166,531.82. Following the sale, the insider directly owned 22,521 shares in the company, valued at $116,658.78. This trade represents a 58.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares 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 Friday, November 7th, Perceptive Advisors Llc sold 19,739 shares of Lyra Therapeutics stock. The shares were sold at an average price of $4.75, for a total value of $93,760.25.

Lyra Therapeutics Trading Down 4.3%

NASDAQ LYRA traded down $0.20 during trading hours on Monday, reaching $4.41. 60,484 shares of the company traded hands, compared to its average volume of 220,331. The stock has a market capitalization of $7.23 million, a PE ratio of -0.15 and a beta of 0.10. Lyra Therapeutics, Inc. has a 12 month low of $3.81 and a 12 month high of $37.50. The company has a 50 day moving average of $6.60 and a two-hundred day moving average of $7.88.

Lyra Therapeutics (NASDAQ:LYRA) last issued its earnings results on Tuesday, August 12th. The company reported ($5.51) EPS for the quarter, topping the consensus estimate of ($5.79) by $0.28. The company had revenue of $0.29 million during the quarter, compared to analyst estimates of $0.18 million. Lyra Therapeutics had a negative return on equity of 404.56% and a negative net margin of 5,043.64%. On average, equities research analysts anticipate that Lyra Therapeutics, Inc. will post -0.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lyra Therapeutics stock. Bank of America Corp DE lifted its stake in Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 33.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC). Institutional investors 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.