Lyra Therapeutics (NASDAQ:LYRA) Major Shareholder Perceptive Advisors Llc Sells 31,810 Shares

Lyra Therapeutics, Inc. (NASDAQ:LYRA) major shareholder Perceptive Advisors Llc sold 31,810 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $3.90, for a total value of $124,059.00. Following the transaction, the insider directly owned 14,026 shares of the company’s stock, valued at $54,701.40. The trade was a 69.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 transaction 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 transaction 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 Price Performance

Shares of LYRA traded up $0.08 during midday trading on Friday, reaching $3.90. The stock had a trading volume of 19,552 shares, compared to its average volume of 217,002. The company has a market cap of $6.39 million, a price-to-earnings ratio of -0.17 and a beta of 0.10. The company’s fifty day simple moving average is $6.35 and its two-hundred day simple moving average is $7.81. Lyra Therapeutics, Inc. has a 1-year low of $3.69 and a 1-year high of $37.50.

Lyra Therapeutics (NASDAQ:LYRA) last posted its earnings results on Wednesday, November 12th. The company reported ($3.38) EPS for the quarter, beating the consensus estimate of ($5.98) by $2.60. Lyra Therapeutics had a negative return on equity of 566.15% and a negative net margin of 5,491.17%.The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.21 million. On average, sell-side analysts forecast that Lyra Therapeutics, Inc. will post -0.93 earnings per share for the current year.

Analysts Set New Price Targets

LYRA has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating on shares of Lyra Therapeutics in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $100.00.

Institutional Investors Weigh In On Lyra Therapeutics

A hedge fund recently raised its stake in Lyra Therapeutics stock. Bank of America Corp DE boosted its stake in Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 33.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,542 shares of the company’s stock after acquiring an additional 7,190 shares during the period. Bank of America Corp DE owned 1.74% of Lyra Therapeutics worth $256,000 as of its most recent SEC filing. 95.62% of the stock is owned by institutional investors.

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.