Perceptive Advisors Llc Sells 31,810 Shares of Lyra Therapeutics (NASDAQ:LYRA) Stock

Lyra Therapeutics, Inc. (NASDAQ:LYRA) major shareholder Perceptive Advisors Llc sold 31,810 shares of Lyra Therapeutics stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $3.90, for a total value of $124,059.00. Following the completion of the transaction, the insider directly owned 14,026 shares of the company’s stock, valued at $54,701.40. This represents a 69.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Perceptive Advisors Llc also recently made the following trade(s):

• On Wednesday, November 12th, Perceptive Advisors Llc sold 8,745 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.06, for a total value of $35,504.70.
• On Tuesday, November 11th, Perceptive Advisors Llc sold 5,320 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.31, for a total value of $22,929.20.
• On Monday, November 10th, Perceptive Advisors Llc sold 18,502 shares of Lyra Therapeutics stock. The shares were sold at an average price of $4.54, for a total value of $83,999.08.
• On Friday, November 7th, Perceptive Advisors Llc sold 19,739 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.75, for a total transaction of $93,760.25.
• On Thursday, November 6th, Perceptive Advisors Llc sold 32,149 shares of Lyra Therapeutics stock. The stock was sold at an average price of $5.18, for a total transaction of $166,531.82.

Lyra Therapeutics Stock Up 0.8%

LYRA stock opened at $3.85 on Friday. The company’s 50-day moving average price is $6.29 and its two-hundred day moving average price is $7.80. The firm has a market cap of $6.81 million, a P/E ratio of -0.16 and a beta of 0.10. Lyra Therapeutics, Inc. has a 12 month low of $3.69 and a 12 month high of $37.50.

Lyra Therapeutics (NASDAQ:LYRA) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($3.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.98) by $2.60. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.21 million. Lyra Therapeutics had a negative net margin of 5,491.17% and a negative return on equity of 1,010.91%. Equities analysts predict that Lyra Therapeutics, Inc. will post -0.93 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lyra Therapeutics in a report on Wednesday, October 8th. HC Wainwright restated a “neutral” rating on shares of Lyra Therapeutics in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $100.00.

Hedge Funds Weigh In On Lyra Therapeutics

An institutional investor recently raised its position in Lyra Therapeutics stock. Bank of America Corp DE increased its holdings in Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 33.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,542 shares of the company’s stock after purchasing an additional 7,190 shares during the quarter. Bank of America Corp DE owned approximately 1.74% of Lyra Therapeutics worth $256,000 at the end of the most recent reporting period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.