Short Interest in Lyra Therapeutics, Inc. (NASDAQ:LYRA) Grows By 54.1%

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 59,094 shares, an increase of 54.1% from the January 15th total of 38,347 shares. Based on an average daily trading volume, of 98,788 shares, the days-to-cover ratio is currently 0.6 days. Currently, 3.4% of the company’s stock are short sold. Currently, 3.4% of the company’s stock are short sold. Based on an average daily trading volume, of 98,788 shares, the days-to-cover ratio is currently 0.6 days.

Lyra Therapeutics Stock Up 5.3%

LYRA traded up $0.07 during mid-day trading on Friday, reaching $1.39. 80,813 shares of the company traded hands, compared to its average volume of 67,811. The company’s fifty day moving average price is $2.74 and its 200-day moving average price is $4.92. The stock has a market capitalization of $2.46 million and a P/E ratio of -0.06. Lyra Therapeutics has a 52-week low of $1.21 and a 52-week high of $37.50.

Lyra Therapeutics (NASDAQ:LYRA) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($3.38) EPS for the quarter, topping the consensus estimate of ($5.98) by $2.60. Lyra Therapeutics had a negative return on equity of 1,010.91% and a negative net margin of 5,491.17%.The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.21 million. As a group, sell-side analysts forecast that Lyra Therapeutics will post -0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lyra Therapeutics

Several institutional investors have recently made changes to their positions in the business. DRW Securities LLC bought a new stake in Lyra Therapeutics during the fourth quarter valued at approximately $52,000. Citadel Advisors LLC purchased a new position in shares of Lyra Therapeutics during the 3rd quarter worth $128,000. Finally, Bank of America Corp DE boosted its stake in shares of Lyra Therapeutics by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock worth $256,000 after acquiring an additional 7,190 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $100.00.

About Lyra Therapeutics

Lyra Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing targeted drug delivery therapies for diseases of the ear, nose and throat (ENT). Leveraging its proprietary Therapeutic Drug Delivery (TDD) platform, the company designs bioresorbable, steroid-eluting implants that provide sustained, localized release of medication directly to affected tissue. This approach aims to improve patient outcomes by reducing the need for repeated administration and minimizing systemic side effects.

The company’s lead product candidate, LYR-210, is an implantable matrix that delivers the corticosteroid mometasone furoate over several months to treat chronic rhinosinusitis (CRS).