Lyra Therapeutics, Inc. (OTCMKTS:LYRA – Get Free Report)’s stock price shot up 2,400% during mid-day trading on Wednesday . The stock traded as high as $0.25 and last traded at $0.25. Approximately 959 shares traded hands during trading, a decline of 18% from the average daily volume of 1,168 shares. The stock had previously closed at $0.01.
Lyra Therapeutics Trading Down 20.0%
The firm has a 50 day moving average of $0.42 and a 200-day moving average of $0.69. The company has a market cap of $354,000.00, a P/E ratio of -0.01 and a beta of 0.72.
Institutional Investors Weigh In On Lyra Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Artia Global Partners LP purchased a new position in shares of Lyra Therapeutics in the fourth quarter worth $27,000. Sabby Management LLC grew its stake in Lyra Therapeutics by 37.2% during 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 in the last quarter. DRW Securities LLC purchased a new position in Lyra Therapeutics during the fourth quarter valued at $52,000. Citadel Advisors LLC bought a new stake in Lyra Therapeutics in the 3rd quarter valued at $128,000. Finally, Bank of America Corp DE increased its holdings in Lyra Therapeutics by 33.7% in the 2nd 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. Institutional investors own 95.62% of the company’s stock.
About Lyra Therapeutics
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).
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