Lyra Therapeutics’ (LYRA) Neutral Rating Reiterated at HC Wainwright

Lyra Therapeutics (NASDAQ:LYRA)‘s stock had its “neutral” rating reiterated by investment analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $2.00 target price on the stock.

Several other brokerages have also recently issued reports on LYRA. BTIG Research restated a “neutral” rating on shares of Lyra Therapeutics in a report on Monday, May 6th. Bank of America cut shares of Lyra Therapeutics from a “buy” rating to an “underperform” rating in a report on Tuesday, May 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday. Jefferies Financial Group cut shares of Lyra Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.00 to $0.50 in a report on Tuesday, May 7th. Finally, William Blair cut shares of Lyra Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.13.

Lyra Therapeutics Price Performance

Shares of NASDAQ LYRA opened at $0.29 on Thursday. Lyra Therapeutics has a one year low of $0.25 and a one year high of $6.79. The firm’s 50 day simple moving average is $0.29 and its two-hundred day simple moving average is $2.77. The stock has a market capitalization of $17.47 million, a P/E ratio of -0.24 and a beta of -0.01.

Institutional Investors Weigh In On Lyra Therapeutics

A number of large investors have recently made changes to their positions in the company. Vestal Point Capital LP bought a new stake in shares of Lyra Therapeutics during the 4th quarter valued at about $15,720,000. Vanguard Group Inc. grew its stake in shares of Lyra Therapeutics by 38.3% during the 1st quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after purchasing an additional 410,021 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Lyra Therapeutics during the 2nd quarter valued at about $271,000. Parkman Healthcare Partners LLC grew its stake in shares of Lyra Therapeutics by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock valued at $3,956,000 after purchasing an additional 129,829 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Lyra Therapeutics during the 4th quarter valued at about $88,000. 95.62% of the stock is currently owned by 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.