Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Update

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 42,622 shares, an increase of 157.8% from the February 26th total of 16,533 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 91,647 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 91,647 shares, the short-interest ratio is presently 0.5 days. Approximately 2.5% of the shares of the company are short sold.

Lyra Therapeutics Price Performance

Shares of Lyra Therapeutics stock traded up $0.08 during midday trading on Wednesday, hitting $0.57. The company had a trading volume of 5,291 shares, compared to its average volume of 108,967. The stock has a market cap of $1.01 million and a PE ratio of -0.02. Lyra Therapeutics has a 1-year low of $0.31 and a 1-year high of $37.50. The business’s 50 day simple moving average is $1.44 and its two-hundred day simple moving average is $3.77.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lyra Therapeutics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lyra Therapeutics presently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LYRA. Artia Global Partners LP bought a new stake in shares of Lyra Therapeutics in the fourth quarter valued at about $27,000. Sabby Management LLC increased its stake in Lyra Therapeutics by 37.2% during the fourth quarter. Sabby Management LLC now owns 175,158 shares of the company’s stock valued at $539,000 after acquiring an additional 47,534 shares during the period. DRW Securities LLC acquired a new position in Lyra Therapeutics in the 4th quarter valued at approximately $52,000. Citadel Advisors LLC acquired a new position in Lyra Therapeutics in the 3rd quarter valued at approximately $128,000. Finally, Bank of America Corp DE lifted its position in shares of Lyra Therapeutics by 33.7% in 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 period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Lyra Therapeutics Company Profile

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).