Analysts Set Lyra Therapeutics, Inc. (NASDAQ:LYRA) PT at $4.50

Lyra Therapeutics, Inc. (NASDAQ:LYRA) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the firm, MarketBeat.com reports. 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. The average 12-month price target among analysts that have covered the stock in the last year is $4.50.

Several equities analysts recently issued reports on LYRA shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lyra Therapeutics in a research report on Thursday, August 15th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price target on shares of Lyra Therapeutics in a report on Thursday, August 15th. Finally, William Blair upgraded Lyra Therapeutics to a “hold” rating in a report on Friday, August 30th.

Lyra Therapeutics Stock Performance

NASDAQ:LYRA opened at $0.21 on Friday. The firm has a 50-day simple moving average of $0.24 and a two-hundred day simple moving average of $0.28. The firm has a market cap of $13.56 million, a P/E ratio of -0.13 and a beta of -0.04. Lyra Therapeutics has a fifty-two week low of $0.16 and a fifty-two week high of $6.79.

Institutional Trading of Lyra Therapeutics

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Lyra Therapeutics by 38.3% in the first quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock worth $9,215,000 after purchasing an additional 410,021 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Lyra Therapeutics in the 2nd quarter worth approximately $271,000. Finally, State Street Corp boosted its holdings in shares of Lyra Therapeutics by 88.1% in 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 during the last quarter. Institutional investors own 95.62% of the company’s stock.

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.