Acadian Asset Management LLC Makes New Investment in Lyra Therapeutics, Inc. (NASDAQ:LYRA)

Acadian Asset Management LLC acquired a new stake in Lyra Therapeutics, Inc. (NASDAQ:LYRA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 985,631 shares of the company’s stock, valued at approximately $271,000. Acadian Asset Management LLC owned approximately 1.62% of Lyra Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jump Financial LLC purchased a new position in Lyra Therapeutics in the 4th quarter worth approximately $88,000. Parkman Healthcare Partners LLC raised its position in Lyra Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock worth $3,956,000 after purchasing an additional 129,829 shares during the period. Vanguard Group Inc. lifted its stake in shares of Lyra Therapeutics by 38.3% during the 1st quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock worth $9,215,000 after acquiring an additional 410,021 shares during the last quarter. Finally, Vestal Point Capital LP bought a new stake in shares of Lyra Therapeutics during the fourth quarter worth $15,720,000. Institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Stock Up 2.7 %

Shares of NASDAQ:LYRA opened at $0.28 on Friday. The business has a 50-day moving average price of $0.30 and a 200-day moving average price of $1.95. The stock has a market cap of $17.13 million, a price-to-earnings ratio of -0.23 and a beta of -0.01. Lyra Therapeutics, Inc. has a 52-week low of $0.25 and a 52-week high of $6.79.

Lyra Therapeutics (NASDAQ:LYRA) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.05. The company had revenue of $0.60 million during the quarter, compared to analyst estimates of $0.43 million. Lyra Therapeutics had a negative net margin of 5,570.88% and a negative return on equity of 102.22%. As a group, equities analysts anticipate that Lyra Therapeutics, Inc. will post -1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday, August 15th. HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 price objective on shares of Lyra Therapeutics in a research report on Thursday, August 15th. Finally, William Blair raised Lyra Therapeutics to a “hold” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.13.

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.