Short Interest in Lyra Therapeutics, Inc. (NASDAQ:LYRA) Drops By 70.7%

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 16,533 shares, a drop of 70.7% from the February 12th total of 56,490 shares. Based on an average daily volume of 33,406 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.0% of the company’s stock are sold short. Approximately 1.0% of the company’s stock are sold short. Based on an average daily volume of 33,406 shares, the days-to-cover ratio is currently 0.5 days.

Lyra Therapeutics Trading Down 1.6%

LYRA stock traded down $0.02 during trading on Friday, hitting $1.32. 2,024 shares of the company’s stock were exchanged, compared to its average volume of 91,202. The business has a 50-day moving average price of $1.85 and a two-hundred day moving average price of $4.18. The stock has a market capitalization of $2.33 million and a price-to-earnings ratio of -0.06. Lyra Therapeutics has a 52-week low of $0.91 and a 52-week high of $37.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $100.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Artia Global Partners LP purchased a new position in shares of Lyra Therapeutics in the 4th quarter valued at $27,000. DRW Securities LLC purchased a new stake in Lyra Therapeutics in the fourth quarter valued at $52,000. Citadel Advisors LLC acquired a new position in Lyra Therapeutics in the third quarter valued at $128,000. Bank of America Corp DE grew its holdings in shares of Lyra Therapeutics by 33.7% during the second quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock worth $256,000 after purchasing an additional 7,190 shares during the last quarter. Finally, Sabby Management LLC grew its holdings in shares of Lyra Therapeutics by 37.2% during the fourth quarter. Sabby Management LLC now owns 175,158 shares of the company’s stock worth $539,000 after purchasing an additional 47,534 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

About Lyra Therapeutics

Lyra Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing targeted drug delivery therapies for diseases of the ear, nose and throat (ENT). Leveraging its proprietary Therapeutic Drug Delivery (TDD) platform, the company designs bioresorbable, steroid-eluting implants that provide sustained, localized release of medication directly to affected tissue. This approach aims to improve patient outcomes by reducing the need for repeated administration and minimizing systemic side effects.

The company’s lead product candidate, LYR-210, is an implantable matrix that delivers the corticosteroid mometasone furoate over several months to treat chronic rhinosinusitis (CRS).