Lyra Therapeutics, Inc. (NASDAQ:LYRA) Short Interest Up 157.8% in March

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 42,622 shares, a growth of 157.8% from the February 26th total of 16,533 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 91,647 shares, the short-interest ratio is currently 0.5 days.

Lyra Therapeutics Stock Down 0.0%

Shares of LYRA stock traded down $0.00 during mid-day trading on Friday, hitting $0.49. 4,089 shares of the stock were exchanged, compared to its average volume of 105,444. Lyra Therapeutics has a 52-week low of $0.31 and a 52-week high of $37.50. The company has a market cap of $870,105.00 and a PE ratio of -0.02. The firm has a fifty day moving average of $1.39 and a 200 day moving average of $3.72.

Institutional Trading of Lyra Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in Lyra Therapeutics by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 28,542 shares of the company’s stock worth $256,000 after buying an additional 7,190 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Lyra Therapeutics during the third quarter worth approximately $128,000. DRW Securities LLC purchased a new stake in shares of Lyra Therapeutics during the fourth quarter worth approximately $52,000. Sabby Management LLC raised its stake in Lyra Therapeutics by 37.2% in the 4th quarter. Sabby Management LLC now owns 175,158 shares of the company’s stock valued at $539,000 after purchasing an additional 47,534 shares during the last quarter. Finally, Artia Global Partners LP purchased a new position in Lyra Therapeutics in the 4th quarter valued at $27,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lyra Therapeutics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Lyra Therapeutics Company Profile

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).