Lyra Therapeutics (NASDAQ:LYRA) Stock Price Down 6.7% – Should You Sell?

Shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA) were down 6.7% during mid-day trading on Tuesday . The company traded as low as $0.70 and last traded at $0.70. Approximately 3,159 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 66,843 shares. The stock had previously closed at $0.75.

Lyra Therapeutics Stock Down 6.7%

The company has a market cap of $1.24 million, a PE ratio of -0.03 and a beta of 0.68. The stock has a 50-day moving average of $0.63 and a 200-day moving average of $1.96.

Institutional Investors Weigh In On Lyra Therapeutics

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

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).