BTIG Research Reaffirms Neutral Rating for Lyra Therapeutics (NASDAQ:LYRA)

BTIG Research restated their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research note published on Monday morning, Benzinga reports.

Several other research firms have also weighed in on LYRA. Bank of America reduced their price objective on Lyra Therapeutics from $12.00 to $11.00 and set a buy rating on the stock in a research note on Monday, March 25th. William Blair lowered shares of Lyra Therapeutics from an outperform rating to a market perform rating in a report on Monday. HC Wainwright reiterated a buy rating and set a $12.00 price objective on shares of Lyra Therapeutics in a research report on Wednesday, May 1st. Finally, Cantor Fitzgerald restated an overweight rating on shares of Lyra Therapeutics in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $7.13.

Lyra Therapeutics Trading Down 7.2 %

Shares of Lyra Therapeutics stock opened at $0.39 on Monday. The company has a market cap of $23.77 million, a PE ratio of -0.32 and a beta of 0.31. The company has a 50 day moving average of $5.22 and a 200-day moving average of $4.61. Lyra Therapeutics has a 1-year low of $0.36 and a 1-year high of $6.79.

Lyra Therapeutics (NASDAQ:LYRA) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The firm had revenue of $0.53 million for the quarter, compared to analyst estimates of $0.40 million. Lyra Therapeutics had a negative net margin of 4,099.82% and a negative return on equity of 77.34%. Research analysts forecast that Lyra Therapeutics will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Lyra Therapeutics

Several large investors have recently bought and sold shares of LYRA. Heritage Wealth Management Inc. Texas bought a new position in shares of Lyra Therapeutics during the fourth quarter valued at about $52,000. Bank of New York Mellon Corp bought a new position in Lyra Therapeutics during the third quarter valued at about $73,000. Jump Financial LLC purchased a new stake in shares of Lyra Therapeutics during the 4th quarter worth approximately $88,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of Lyra Therapeutics in the third quarter valued at $117,000. Finally, Citigroup Inc. purchased a new position in shares of Lyra Therapeutics during the 3rd quarter valued at $265,000. 95.62% of the stock is currently owned by institutional investors.

About Lyra Therapeutics

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.