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

Shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) have received a consensus rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.50.

Several brokerages have weighed in on LYRA. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a research note on Thursday, August 15th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a research note on Thursday, August 15th. Finally, William Blair raised Lyra Therapeutics to a “hold” rating in a report on Friday, August 30th.

Lyra Therapeutics Price Performance

Shares of LYRA opened at $0.26 on Tuesday. Lyra Therapeutics has a twelve month low of $0.21 and a twelve month high of $6.79. The stock’s 50 day moving average is $0.27 and its two-hundred day moving average is $0.69.

Lyra Therapeutics (NASDAQ:LYRA) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.05. The company had revenue of $0.60 million during the quarter, compared to the consensus estimate of $0.43 million. Lyra Therapeutics had a negative net margin of 5,570.88% and a negative return on equity of 102.22%. As a group, analysts anticipate that Lyra Therapeutics will post -1.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lyra Therapeutics stock. Vanguard Group Inc. increased its holdings in Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 38.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,481,481 shares of the company’s stock after acquiring an additional 410,021 shares during the period. Vanguard Group Inc. owned about 2.43% of Lyra Therapeutics worth $9,215,000 at the end of the most recent quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

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.