Lyra Therapeutics (NASDAQ:LYRA) Earns Neutral Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Lyra Therapeutics (NASDAQ:LYRA) in a research note released on Friday morning,Benzinga reports. The firm currently has a $2.00 target price on the stock.

Lyra Therapeutics Stock Down 1.7 %

NASDAQ:LYRA opened at $0.17 on Friday. Lyra Therapeutics has a twelve month low of $0.16 and a twelve month high of $6.79. The company has a fifty day moving average of $0.19 and a 200-day moving average of $0.22. The firm has a market capitalization of $11.26 million, a P/E ratio of -0.12 and a beta of -0.18.

Hedge Funds Weigh In On Lyra Therapeutics

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Lyra Therapeutics by 161.8% in the 4th quarter. JPMorgan Chase & Co. now owns 156,442 shares of the company’s stock valued at $32,000 after buying an additional 96,681 shares in the last quarter. Northern Trust Corp grew its stake in 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. Geode Capital Management LLC increased its holdings in shares of Lyra Therapeutics by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 885,966 shares of the company’s stock valued at $183,000 after acquiring an additional 117,578 shares in the last quarter. State Street Corp raised its position 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 purchasing an additional 228,900 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Lyra Therapeutics in the 4th quarter worth $51,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

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.