The stock of Lyra Therapeutics Inc (NASDAQ: LYRA) has increased by 1.48 when compared to last closing price of 0.26.Despite this, the company has seen a loss of -1.44% in its stock price over the last five trading days. globenewswire.com reported 2024-05-21 that WATERTOWN, Mass., May 21, 2024 (GLOBE NEWSWIRE) — Lyra Therapeutics, Inc. (Nasdaq: LYRA) (“Lyra” or the “Company”), today announced that it is advancing its goal to preserve capital by implementing a layoff of approximately 75% of its workforce, in addition to other cost-cutting measures.
Is It Worth Investing in Lyra Therapeutics Inc (NASDAQ: LYRA) Right Now?
Additionally, the 36-month beta value for LYRA is -0.01. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for LYRA is 46.09M and currently, short sellers hold a 1.96% ratio of that float. The average trading volume of LYRA on June 25, 2024 was 3.52M shares.
LYRA’s Market Performance
LYRA stock saw a decrease of -1.44% in the past week, with a monthly decline of -18.25% and a quarterly a decrease of -95.67%. The volatility ratio for the week is 7.26%, and the volatility levels for the last 30 days are 5.98% for Lyra Therapeutics Inc (LYRA). The simple moving average for the past 20 days is -12.88% for LYRA’s stock, with a -93.04% simple moving average for the past 200 days.
Analysts’ Opinion of LYRA
Many brokerage firms have already submitted their reports for LYRA stocks, with Jefferies repeating the rating for LYRA by listing it as a “Hold.” The predicted price for LYRA in the upcoming period, according to Jefferies is $0.50 based on the research report published on May 07, 2024 of the current year 2024.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see LYRA reach a price target of $2, previously predicting the price at $12. The rating they have provided for LYRA stocks is “Neutral” according to the report published on May 07th, 2024.
LYRA Trading at -85.62% from the 50-Day Moving Average
After a stumble in the market that brought LYRA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -96.07% of loss for the given period.
Volatility was left at 5.98%, however, over the last 30 days, the volatility rate increased by 7.26%, as shares sank -17.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -94.90% lower at present.
During the last 5 trading sessions, LYRA fell by -0.52%, which changed the moving average for the period of 200-days by -92.86% in comparison to the 20-day moving average, which settled at $0.3032. In addition, Lyra Therapeutics Inc saw -94.91% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at LYRA starting from Waksal Harlan, who purchase 25,000 shares at the price of $2.96 back on Nov 10 ’23. After this action, Waksal Harlan now owns 261,966 shares of Lyra Therapeutics Inc, valued at $74,095 using the latest closing price.
Stock Fundamentals for LYRA
Current profitability levels for the company are sitting at:
- -43.65 for the present operating margin
- -12.92 for the gross margin
The net margin for Lyra Therapeutics Inc stands at -41.0. The total capital return value is set at -0.6. Equity return is now at value -95.93, with -58.52 for asset returns.
Based on Lyra Therapeutics Inc (LYRA), the company’s capital structure generated 0.33 points at debt to capital in total, while cash flow to debt ratio is standing at -1.85. The debt to equity ratio resting at 0.49. The interest coverage ratio of the stock is -68.41.
Currently, EBITDA for the company is -65.25 million with net debt to EBITDA at -0.32. When we switch over and look at the enterprise to sales, we see a ratio of 22.82. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.78.
Conclusion
In conclusion, Lyra Therapeutics Inc (LYRA) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
