Key Points
- Perceptive Advisors sold 18,502 shares of Lyra Therapeutics on Nov. 10 at an average price of $4.54 for $83,999, cutting its position by 49.79% to 18,659 shares; the firm also sold 32,149 shares on Nov. 6 and 19,739 shares on Nov. 7.
- Lyra is a clinical-stage biotech trading around $4.41, well below its 50-day ($6.54) and 200-day ($7.88) averages, with negative EPS and extremely negative margins, and a consensus sell-side rating of "Reduce".
- Institutional investors own about 95.62% of the company, and Bank of America recently increased its stake to 28,542 shares (≈1.74% of the company).
Lyra Therapeutics, Inc. (NASDAQ:LYRA - Get Free Report) major shareholder Perceptive Advisors Llc sold 18,502 shares of the business's stock in a transaction on Monday, November 10th. The shares were sold at an average price of $4.54, for a total value of $83,999.08. Following the completion of the sale, the insider directly owned 18,659 shares in the company, valued at approximately $84,711.86. This represents a 49.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 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 value of $93,760.25.
- On Thursday, November 6th, Perceptive Advisors Llc sold 32,149 shares of Lyra Therapeutics stock. The shares were sold at an average price of $5.18, for a total value of $166,531.82.
Lyra Therapeutics Stock Performance
LYRA opened at $4.41 on Tuesday. The firm's 50-day simple moving average is $6.54 and its 200-day simple moving average is $7.88. Lyra Therapeutics, Inc. has a twelve month low of $3.81 and a twelve month high of $37.50. The firm has a market cap of $7.23 million, a price-to-earnings ratio of -0.15 and a beta of 0.10.
Lyra Therapeutics (NASDAQ:LYRA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($5.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.79) by $0.28. The firm had revenue of $0.29 million during the quarter, compared to the consensus estimate of $0.18 million. Lyra Therapeutics had a negative net margin of 5,043.64% and a negative return on equity of 404.56%. As a group, sell-side analysts anticipate that Lyra Therapeutics, Inc. will post -0.93 EPS for the current fiscal year.
Wall Street Analyst Weigh In
LYRA has been the subject of a number of research analyst reports. HC Wainwright reiterated a "neutral" rating on shares of Lyra Therapeutics in a research note on Thursday, August 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Lyra Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lyra Therapeutics currently has an average rating of "Reduce" and a consensus price target of $100.00.
Check Out Our Latest Analysis on LYRA
Institutional Trading of Lyra Therapeutics
An institutional investor recently raised its position in Lyra Therapeutics stock. Bank of America Corp DE boosted its position in shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA - Free Report) by 33.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,542 shares of the company's stock after buying an additional 7,190 shares during the quarter. Bank of America Corp DE owned approximately 1.74% of Lyra Therapeutics worth $256,000 as of its most recent SEC filing. Institutional investors own 95.62% of the company's stock.
Lyra Therapeutics Company Profile
(
Get Free Report)
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.
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