Lyra Therapeutics (NASDAQ:LYRA) Downgraded to “Market Perform” at William Blair

Lyra Therapeutics (NASDAQ:LYRA) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Monday, MarketBeat reports. William Blair also issued estimates for Lyra Therapeutics’ Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.31) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.27) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.22) EPS.

Several other brokerages have also issued reports on LYRA. Bank of America dropped their price target on Lyra Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Lyra Therapeutics in a report on Friday, January 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Lyra Therapeutics in a report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.67.

Lyra Therapeutics Trading Down 89.8 %

Lyra Therapeutics stock traded down $3.62 during midday trading on Monday, reaching $0.41. The company’s stock had a trading volume of 37,298,036 shares, compared to its average volume of 669,089. Lyra Therapeutics has a 52 week low of $0.36 and a 52 week high of $6.79. The business has a 50-day moving average price of $5.52 and a 200-day moving average price of $4.68. The stock has a market cap of $25.00 million, a PE ratio of -0.32 and a beta of 0.31.

Lyra Therapeutics (NASDAQ:LYRA) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). Lyra Therapeutics had a negative net margin of 4,099.82% and a negative return on equity of 77.34%. The firm had revenue of $0.53 million for the quarter, compared to analyst estimates of $0.40 million. As a group, research analysts predict that Lyra Therapeutics will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Lyra Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Parkman Healthcare Partners LLC grew its holdings in shares of Lyra Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 754,885 shares of the company’s stock worth $3,956,000 after acquiring an additional 129,829 shares during the period. Vestal Point Capital LP bought a new position in Lyra Therapeutics in the fourth quarter worth approximately $15,720,000. Jump Financial LLC purchased a new stake in Lyra Therapeutics during the fourth quarter worth $88,000. Heritage Wealth Management Inc. Texas purchased a new stake in shares of Lyra Therapeutics during the 4th quarter valued at $52,000. Finally, Citigroup Inc. acquired a new position in shares of Lyra Therapeutics in the 3rd quarter valued at $265,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.