Shares of Lyra Therapeutics, Inc. (NASDAQ:LYRA – Get Free Report) fell 5% during mid-day trading on Wednesday . The stock traded as low as $0.4750 and last traded at $0.4750. 204 shares were traded during trading, a decline of 100% from the average daily volume of 53,314 shares. The stock had previously closed at $0.50.
Lyra Therapeutics Trading Down 5.0%
The firm has a market capitalization of $843,125.00, a PE ratio of -0.02 and a beta of 0.68. The company has a fifty day moving average price of $0.62 and a two-hundred day moving average price of $0.96.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Artia Global Partners LP purchased a new stake in Lyra Therapeutics in the fourth quarter valued at approximately $27,000. DRW Securities LLC acquired a new position in shares of Lyra Therapeutics in the 4th quarter valued at $52,000. Citadel Advisors LLC acquired a new position in shares of Lyra Therapeutics in the 3rd quarter valued at $128,000. Bank of America Corp DE raised its position 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 purchasing an additional 7,190 shares during the last quarter. Finally, Sabby Management LLC raised its position 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. Institutional investors and hedge funds 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).
Further Reading
- Five stocks we like better than Lyra Therapeutics
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Receive News & Ratings for Lyra Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyra Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
