Short Interest in Lyra Therapeutics, Inc. (NASDAQ:LYRA) Declines By 16.4%

Lyra Therapeutics, Inc. (NASDAQ:LYRA) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 1,840,000 shares, a decrease of 16.4% from the November 30th total of 2,200,000 shares. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lyra Therapeutics stock. State Street Corp boosted its position in Lyra Therapeutics, Inc. (NASDAQ:LYRA) by 88.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488,720 shares of the company’s stock after purchasing an additional 228,900 shares during the period. State Street Corp owned about 0.75% of Lyra Therapeutics worth $126,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Lyra Therapeutics Stock Performance

NASDAQ LYRA traded up $0.01 during trading hours on Friday, hitting $0.19. The company had a trading volume of 1,789,166 shares, compared to its average volume of 1,696,279. The business has a 50 day moving average of $0.22 and a 200-day moving average of $0.26. Lyra Therapeutics has a 1-year low of $0.16 and a 1-year high of $6.79. The company has a market cap of $12.47 million, a PE ratio of -0.13 and a beta of -0.12.

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.