Lyra Therapeutics’ (LYRA) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research note released on Friday,Benzinga reports. HC Wainwright currently has a $2.00 price objective on the stock.

Lyra Therapeutics Price Performance

Shares of LYRA opened at $0.17 on Friday. The firm has a 50 day simple moving average of $0.19 and a two-hundred day simple moving average of $0.22. The company has a market cap of $11.26 million, a P/E ratio of -0.12 and a beta of -0.18. Lyra Therapeutics has a one year low of $0.16 and a one year high of $6.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its position in Lyra Therapeutics by 88.1% during the 3rd quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after purchasing an additional 228,900 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Lyra Therapeutics by 56.2% during the fourth quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock worth $59,000 after buying an additional 103,026 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Lyra Therapeutics in the 4th quarter valued at $51,000. JPMorgan Chase & Co. boosted its holdings in shares of Lyra Therapeutics by 161.8% during the 4th quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock valued at $32,000 after acquiring an additional 96,681 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Lyra Therapeutics by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock worth $183,000 after acquiring an additional 117,578 shares during the last quarter. 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.