Perceptive Advisors Llc Sells 8,745 Shares of Lyra Therapeutics (NASDAQ:LYRA) Stock

Lyra Therapeutics, Inc. (NASDAQ:LYRA - Get Free Report) major shareholder Perceptive Advisors Llc sold 8,745 shares of the business's stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $4.06, for a total transaction of $35,504.70. Following the completion of the sale, the insider directly owned 17,239 shares of the company's stock, valued at approximately $69,990.34. The trade was a 33.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Perceptive Advisors Llc also recently made the following trade(s):

• On Thursday, November 13th, Perceptive Advisors Llc sold 31,810 shares of Lyra Therapeutics stock. The shares were sold at an average price of $3.90, for a total transaction of $124,059.00.
• On Tuesday, November 11th, Perceptive Advisors Llc sold 5,320 shares of Lyra Therapeutics stock. The shares were sold at an average price of $4.31, for a total value of $22,929.20.
• On Monday, November 10th, Perceptive Advisors Llc sold 18,502 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.54, for a total value of $83,999.08.
• On Friday, November 7th, Perceptive Advisors Llc sold 19,739 shares of Lyra Therapeutics stock. The stock was sold at an average price of $4.75, for a total transaction of $93,760.25.
• On Thursday, November 6th, Perceptive Advisors Llc sold 32,149 shares of Lyra Therapeutics stock. The shares were sold at an average price of $5.18, for a total value of $166,531.82.

Lyra Therapeutics Price Performance

LYRA stock traded up $0.08 during mid-day trading on Friday, reaching $3.90. The company had a trading volume of 27,984 shares, compared to its average volume of 217,058. Lyra Therapeutics, Inc. has a 52 week low of $3.69 and a 52 week high of $37.50. The stock has a 50 day simple moving average of $6.35 and a two-hundred day simple moving average of $7.81. The company has a market capitalization of $6.39 million, a price-to-earnings ratio of -0.17 and a beta of 0.10.

Lyra Therapeutics (NASDAQ:LYRA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($3.38) earnings per share for the quarter, topping analysts' consensus estimates of ($5.98) by $2.60. Lyra Therapeutics had a negative return on equity of 566.15% and a negative net margin of 5,491.17%.The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.21 million. On average, equities analysts predict that Lyra Therapeutics, Inc. will post -0.93 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lyra Therapeutics stock. Bank of America Corp DE raised its stake in Lyra Therapeutics, Inc. (NASDAQ:LYRA - Free Report) by 33.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,542 shares of the company's stock after buying an additional 7,190 shares during the period. Bank of America Corp DE owned 1.74% of Lyra Therapeutics worth $256,000 at the end of the most recent quarter. Institutional investors and hedge funds own 95.62% of the company's stock.

Wall Street Analyst Weigh In

LYRA has been the topic of several recent research reports. HC Wainwright reiterated a "neutral" rating on shares of Lyra Therapeutics in a research report on Thursday, August 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Lyra Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $100.00.

Read Our Latest Analysis on Lyra Therapeutics

Lyra Therapeutics Company Profile

(Get Free Report)

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.

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