Lyra Therapeutics Inc’s Market Journey: Closing Weak at 0.36, Down -2.66

Investors on the quest for market-beating returns often employ the strategy of stock picking. Making informed choices in stocks can greatly amplify your wealth.

The closing price of Lyra Therapeutics Inc (NASDAQ: LYRA) was $0.36 for the day, down -2.66% from the previous closing price of $0.37. In other words, the price has decreased by -$2.66 from its previous closing price. On the day, 2.49 million shares were traded. LYRA stock price reached its highest trading level at $0.3693 during the session, while it also had its lowest trading level at $0.357.

Ratios:

Our analysis of LYRA’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 4.78 and its Current Ratio is at 4.78. In the meantime, Its Debt-to-Equity ratio is 0.49 whereas as Long-Term Debt/Eq ratio is at 0.43.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Jefferies on May 07, 2024, Downgraded its rating to Hold and sets its target price to $0.50 from $10 previously.

On May 07, 2024, H.C. Wainwright Downgraded its rating to Neutral which previously was Buy and also lowered its target price recommendation from $12 to $2.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Nov 10 ’23 when Waksal Harlan bought 25,000 shares for $2.96 per share. The transaction valued at 74,095 led to the insider holds 261,966 shares of the business.

PERCEPTIVE ADVISORS LLC bought 3,610,832 shares of LYRA for $8,999,999 on May 31 ’23. The Director now owns 11,469,117 shares after completing the transaction at $2.49 per share. On May 31 ’23, another insider, ANDERSON EDWARD T, who serves as the Director of the company, bought 1,805,416 shares for $2.43 each. As a result, the insider paid 4,387,161 and bolstered with 2,521,745 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, LYRA now has a Market Capitalization of 22105872 and an Enterprise Value of -27152142. For the stock, the TTM Price-to-Sale (P/S) ratio is 13.16 while its Price-to-Book (P/B) ratio in mrq is 0.29. Its current Enterprise Value per Revenue stands at -16.162 whereas that against EBITDA is 0.379.

Stock Price History:

The Beta on a monthly basis for LYRA is 0.11, which has changed by -0.86847824 over the last 52 weeks, in comparison to a change of 0.2704494 over the same period for the S&P500. Over the past 52 weeks, LYRA has reached a high of $6.79, while it has fallen to a 52-week low of $0.36. The 50-Day Moving Average of the stock is -92.76%, while the 200-Day Moving Average is calculated to be -91.50%.

Shares Statistics:

LYRA traded an average of 2.67M shares per day over the past three months and 15059470 shares per day over the past ten days. A total of 57.21M shares are outstanding, with a floating share count of 46.53M. Insiders hold about 23.67% of the company’s shares, while institutions hold 60.80% stake in the company. Shares short for LYRA as of 1714435200 were 413791 with a Short Ratio of 0.15, compared to 1711584000 on 223030. Therefore, it implies a Short% of Shares Outstanding of 413791 and a Short% of Float of 0.86.

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