Brokers Set Expectations for Lyra Therapeutics, Inc.’s FY2023 Earnings (NASDAQ:LYRA)

Lyra Therapeutics, Inc. (NASDAQ:LYRAGet Rating) – Cantor Fitzgerald issued their FY2023 earnings per share (EPS) estimates for Lyra Therapeutics in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst L. Chen forecasts that the company will post earnings of ($1.68) per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $15.00 price objective on the stock.

Lyra Therapeutics (NASDAQ:LYRAGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.38. The firm had revenue of $5.37 million for the quarter, compared to the consensus estimate of $2.50 million.

A number of other brokerages have also issued reports on LYRA. William Blair reiterated an “outperform” rating on shares of Lyra Therapeutics in a report on Tuesday, May 10th. Zacks Investment Research cut Lyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, March 11th.

Shares of LYRA opened at $5.74 on Thursday. The company’s 50-day moving average is $5.54 and its 200-day moving average is $4.91. Lyra Therapeutics has a fifty-two week low of $3.30 and a fifty-two week high of $9.98.

A number of large investors have recently bought and sold shares of LYRA. Clearline Capital LP acquired a new stake in shares of Lyra Therapeutics during the fourth quarter worth about $283,000. Two Sigma Advisers LP increased its stake in shares of Lyra Therapeutics by 31.8% during the 3rd quarter. Two Sigma Advisers LP now owns 58,000 shares of the company’s stock worth $529,000 after purchasing an additional 14,000 shares in the last quarter. Pentwater Capital Management LP grew its stake in Lyra Therapeutics by 122.8% in the 4th quarter. Pentwater Capital Management LP now owns 71,313 shares of the company’s stock worth $311,000 after acquiring an additional 39,299 shares during the period. Millennium Management LLC grew its stake in Lyra Therapeutics by 29.4% in the 4th quarter. Millennium Management LLC now owns 152,934 shares of the company’s stock worth $667,000 after acquiring an additional 34,776 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Lyra Therapeutics in the 4th quarter valued at $227,000. 85.06% of the stock is currently owned by hedge funds and other institutional investors.

In other news, major shareholder Nbvm Gp, Llc acquired 2,369,667 shares of the business’s stock in a transaction on Tuesday, April 12th. The stock was bought at an average cost of $4.22 per share, for a total transaction of $9,999,994.74. Following the purchase, the insider now owns 1,855,443 shares in the company, valued at $7,829,969.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward T. Anderson acquired 118,483 shares of the firm’s stock in a transaction that occurred on Tuesday, April 12th. The stock was acquired at an average price of $4.22 per share, for a total transaction of $499,998.26. Following the completion of the acquisition, the director now directly owns 118,483 shares of the company’s stock, valued at approximately $499,998.26. The disclosure for this purchase can be found here. Insiders have purchased 2,728,944 shares of company stock valued at $11,518,465 in the last quarter. 15.90% of the stock is currently owned by company insiders.

Lyra Therapeutics Company Profile (Get Rating)

Lyra Therapeutics, Inc, a clinical-stage therapeutics 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.

Featured Stories

Earnings History and Estimates for Lyra Therapeutics (NASDAQ:LYRA)

Want More Great Investing Ideas?

Receive News & Ratings for Lyra Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyra Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.