Analysts Set Lyra Therapeutics, Inc. (NASDAQ:LYRA) PT at $4.50

Shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) have earned an average rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. 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 company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.50.

LYRA has been the subject of several research reports. William Blair raised Lyra Therapeutics to a “hold” rating in a research report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lyra Therapeutics in a report on Thursday, August 15th. Finally, HC Wainwright reissued a “neutral” rating and set a $2.00 price objective on shares of Lyra Therapeutics in a research report on Thursday, August 15th.

Hedge Funds Weigh In On Lyra Therapeutics

Several large investors have recently modified their holdings of LYRA. Vanguard Group Inc. grew its position in Lyra Therapeutics by 38.3% during the 1st quarter. Vanguard Group Inc. now owns 1,481,481 shares of the company’s stock valued at $9,215,000 after purchasing an additional 410,021 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Lyra Therapeutics in the second quarter worth about $271,000. Finally, State Street Corp lifted its stake in shares of Lyra Therapeutics by 88.1% in the third quarter. State Street Corp now owns 488,720 shares of the company’s stock worth $126,000 after buying an additional 228,900 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Price Performance

Shares of LYRA opened at $0.19 on Friday. The company has a 50-day simple moving average of $0.24 and a two-hundred day simple moving average of $0.28. The firm has a market capitalization of $12.44 million, a PE ratio of -0.13 and a beta of -0.04. Lyra Therapeutics has a one year low of $0.16 and a one year high of $6.79.

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.