Lyra Therapeutics, Inc. (NASDAQ:LYRA) Given Average Rating of “Hold” by Brokerages

Lyra Therapeutics, Inc. (NASDAQ:LYRA) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.50.

Separately, HC Wainwright reissued a “neutral” rating and set a $2.00 price target on shares of Lyra Therapeutics in a research report on Friday.

Institutional Investors Weigh In On Lyra Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 117,578 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Lyra Therapeutics during the 4th quarter worth $110,000. State Street Corp lifted its holdings in shares of Lyra Therapeutics by 88.1% during the third quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after buying an additional 228,900 shares in the last quarter. Northern Trust Corp boosted its position in shares of Lyra Therapeutics by 56.2% in the fourth quarter. Northern Trust Corp now owns 286,310 shares of the company’s stock valued at $59,000 after acquiring an additional 103,026 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of Lyra Therapeutics in the fourth quarter valued at about $51,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Lyra Therapeutics Price Performance

Shares of LYRA opened at $0.18 on Friday. The company has a market cap of $11.46 million, a PE ratio of -0.12 and a beta of -0.18. The firm has a 50-day moving average of $0.20 and a 200-day moving average of $0.22. Lyra Therapeutics has a one year low of $0.16 and a one year high of $6.79.

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.