Lyra Therapeutics, Inc. (NASDAQ:LYRA) Receives Average Recommendation of “Hold” from Brokerages

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

Separately, HC Wainwright reissued a “neutral” rating and issued a $2.00 price target on shares of Lyra Therapeutics in a report on Friday, March 14th.

Institutional Trading of Lyra Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of LYRA. ADAR1 Capital Management LLC bought a new position in shares of Lyra Therapeutics in the fourth quarter worth approximately $110,000. BNP Paribas Financial Markets purchased a new position in Lyra Therapeutics in the 4th quarter worth approximately $51,000. State Street Corp increased its holdings in shares of Lyra Therapeutics by 88.1% in the 3rd quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after buying an additional 228,900 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Lyra Therapeutics by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock valued at $183,000 after buying an additional 117,578 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Lyra Therapeutics by 56.2% during the 4th quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock valued at $59,000 after buying an additional 103,026 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Price Performance

NASDAQ:LYRA opened at $0.17 on Friday. Lyra Therapeutics has a 1 year low of $0.14 and a 1 year high of $6.79. The stock’s fifty day moving average price is $0.19 and its two-hundred day moving average price is $0.22. The company has a market cap of $10.98 million, a P/E ratio of -0.11 and a beta of -0.18.

Lyra Therapeutics (NASDAQ:LYRA) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Lyra Therapeutics had a negative net margin of 6,635.76% and a negative return on equity of 125.07%. The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.21 million. During the same quarter in the previous year, the firm posted ($1.26) earnings per share. On average, analysts expect that Lyra Therapeutics will post -0.93 earnings per share for the current fiscal year.

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.