Insider Selling: Lyra Therapeutics (NASDAQ:LYRA) Major Shareholder Sells $124,059.00 in Stock

Lyra Therapeutics, Inc. (NASDAQ:LYRA) major shareholder Perceptive Advisors Llc sold 31,810 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $3.90, for a total transaction of $124,059.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock 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 shares were sold at an average price of $4.06, for a total transaction 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 stock was 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 shares were 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 shares were sold at an average price of $5.18, for a total transaction of $166,531.82.

Lyra Therapeutics Stock Performance

Shares of LYRA opened at $3.85 on Friday. The business’s 50-day moving average is $6.29 and its two-hundred day moving average is $7.82. The company has a market capitalization of $6.81 million, a P/E ratio of -0.16 and a beta of 0.10. Lyra Therapeutics, Inc. has a fifty-two week low of $3.69 and a fifty-two week high of $37.50.

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

Analyst Upgrades and Downgrades

LYRA has been the topic of several recent research reports. HC Wainwright restated a “neutral” rating on shares of Lyra Therapeutics in a research report on Thursday, August 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lyra Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target 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 shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 33.7% in the second quarter, according to its most recent disclosure with the SEC. 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 about 1.74% of Lyra Therapeutics worth $256,000 at the end of the most recent quarter. 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.