Citigroup Inc. Buys Shares of 67,677 Lyra Therapeutics, Inc. (NASDAQ:LYRA)

Citigroup Inc. purchased a new position in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 67,677 shares of the company’s stock, valued at approximately $265,000. Citigroup Inc. owned about 0.13% of Lyra Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Samsara BioCapital LLC grew its position in shares of Lyra Therapeutics by 56.4% in the 2nd quarter. Samsara BioCapital LLC now owns 2,780,261 shares of the company’s stock valued at $11,427,000 after buying an additional 1,003,010 shares during the last quarter. Perceptive Advisors LLC increased its position in Lyra Therapeutics by 39.5% during the 2nd quarter. Perceptive Advisors LLC now owns 12,757,562 shares of the company’s stock valued at $52,434,000 after purchasing an additional 3,610,832 shares during the period. Bank of New York Mellon Corp bought a new position in Lyra Therapeutics during the 3rd quarter worth approximately $73,000. Prescott Group Capital Management L.L.C. bought a new position in Lyra Therapeutics during the 3rd quarter worth approximately $117,000. Finally, BlackRock Inc. lifted its position in shares of Lyra Therapeutics by 17.5% in the 2nd quarter. BlackRock Inc. now owns 48,614 shares of the company’s stock worth $200,000 after purchasing an additional 7,234 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Lyra Therapeutics Stock Up 6.5 %

LYRA stock opened at $6.53 on Thursday. The firm has a market capitalization of $390.10 million, a PE ratio of -5.06 and a beta of 0.20. Lyra Therapeutics, Inc. has a twelve month low of $1.89 and a twelve month high of $6.79. The stock’s 50 day moving average is $5.32 and its 200-day moving average is $4.43.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LYRA. Cantor Fitzgerald restated an “overweight” rating on shares of Lyra Therapeutics in a research note on Friday, January 12th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Lyra Therapeutics in a research note on Friday, March 22nd. Finally, Bank of America dropped their price objective on shares of Lyra Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday.

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.