Lyra Therapeutics, Inc. (NASDAQ:LYRA – Get Rating) – Stock analysts at William Blair dropped their Q2 2023 EPS estimates for shares of Lyra Therapeutics in a note issued to investors on Monday, May 15th. William Blair analyst T. Lugo now expects that the company will post earnings of ($0.47) per share for the quarter, down from their previous estimate of ($0.40). The consensus estimate for Lyra Therapeutics’ current full-year earnings is ($1.84) per share. William Blair also issued estimates for Lyra Therapeutics’ Q3 2023 earnings at ($0.50) EPS, Q4 2023 earnings at ($0.37) EPS, FY2023 earnings at ($1.77) EPS and FY2024 earnings at ($1.45) EPS.
Lyra Therapeutics (NASDAQ:LYRA – Get Rating) last released its earnings results on Wednesday, March 29th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.06. Lyra Therapeutics had a negative net margin of 5,032.86% and a negative return on equity of 69.00%. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.36 million.
Lyra Therapeutics Stock Performance
NASDAQ LYRA opened at $2.72 on Thursday. Lyra Therapeutics has a one year low of $1.86 and a one year high of $6.99. The company has a 50-day simple moving average of $2.30 and a 200-day simple moving average of $2.81. The firm has a market capitalization of $86.60 million, a PE ratio of -1.67 and a beta of -0.41.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Lyra Therapeutics by 813.9% in the 1st quarter. JPMorgan Chase & Co. now owns 7,759 shares of the company’s stock worth $31,000 after acquiring an additional 6,910 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Lyra Therapeutics by 28.6% in the 1st quarter. Renaissance Technologies LLC now owns 47,851 shares of the company’s stock worth $96,000 after acquiring an additional 10,651 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Lyra Therapeutics in the 3rd quarter worth approximately $98,000. Northern Trust Corp acquired a new stake in shares of Lyra Therapeutics in the 2nd quarter worth approximately $169,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Lyra Therapeutics in the 3rd quarter worth approximately $186,000. 60.20% of the stock is owned by institutional investors and hedge funds.
Lyra Therapeutics Company Profile
Lyra Therapeutics, Inc, a clinical-stage therapeutics 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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