How to Buy Lyra Therapeutics Stock
Lyra Therapeutics Inc
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.
Lyra Therapeutics stock last closed at $4.72, down 8.7% from the previous day, and has increased 100% in one year. It has overperformed other stocks in the Biotechnology industry by 1.22 percentage points. Lyra Therapeutics stock is currently +108.85% from its 52-week low of $2.26, and -30.49% from its 52-week high of $6.79.
At the moment, there are 59.74M shares of LYRA outstanding. The market value of LYRA is $281.99M. In the last 24 hours, 157,109 LYRA shares were traded.
How to Buy Lyra Therapeutics Stock
Wondering how to invest in Lyra Therapeutics stock? Here's how.
- Choose where to buy Lyra Therapeutics stock: You need to decide on an online brokerage, but don't worry - we've analyzed dozens of online stock brokerages and apps to help you figure out where to buy Lyra Therapeutics stock.
- Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've selected.
- Deposit funds into your investment account: Pick your payment method and add your details.
- Evaluate Lyra Therapeutics stock: The Lyra Therapeutics ticker symbol is LYRA. Is Lyra Therapeutics stock a good investment? Should you buy shares of LYRA? How do LYRA's underlying business fundamentals look? Do top analysts think Lyra Therapeutics is a good buy? Why has LYRA's stock price moved recently? (Hint: Our stock analysis website can help you understand if LYRA is a good stock to buy).
- Make your LYRA buy order: Decide if you will purchase LYRA shares at the current market price or use a limit order to buy LYRA stock at a given price.
- Track your LYRA position: Create a watchlist to get live updates on your position in Lyra Therapeutics stock.
Step 1: Choose where to buy Lyra Therapeutics stock
You need a brokerage account in order to access the NASDAQ market and buy LYRA shares.
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Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've selected the right brokerage, you need to fill out some personal information so you are able to invest in LYRA today.
How to Create a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Enter your personal info to create your new brokerage account.
- Send your application by hitting the "Create Account" button. Get started with eToro today
Step 3: Deposit funds into your investment account
Now that you have created your account on the best stock app, your next step is to transfer the money for your investment:
Watch the tutorial below to see the process of transferring funds into your new investment account.
Step 4: Evaluate Lyra Therapeutics stock
Once you have decided on the best place to buy Lyra Therapeutics stock, it's critical to research their stock prior to investing, so you truly wrap your head around the risk and opportunity.
Lyra Therapeutics shares at a glance
LYRA Due Diligence Checks
WallStreetZen was designed to help everyday investors do better fundamental analysis.
You can see all of the due diligence checks on LYRA's stock page.
Is LYRA stock undervalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge LYRA's intrinsic value.
Using relative valuations measures:
- LYRA may be undervalued based on its P/B ratio of 3.15x, relative to Biotechnology industry P/B ratio of 5.85x
You can access additional valuation research on LYRA's stock here.
How do LYRA Financials look?
Passed Health Checks:
- Total LYRA debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than short-term liabilities on the LYRA balance sheet.
- There are more short-term assets than long-term liabilities on the LYRA balance sheet.
- LYRA has cash burn of 64351000. It has enough cash and short-term investments to cover this for at least one year.
Failed Health Checks:
- LYRA profit margin has gone up by 0.32 percentage points in the past year, but the company is still unprofitable.
- LYRA has $104.15M in cash and short term investments. This is not enough to cover its annual cash burn of $64.35M.
- LYRA has a relatively high debt to equity ratio of 0.6.
Is it a good time to buy Lyra Therapeutics stock, according to Wall Street analysts?
Out of 2 Equities analysts who give recommendations on LYRA, the consensus analyst rating on LYRA is a Strong Buy
Please note that analyst forecasts are not stock recommendations, nor are they financial advice.
You can dig deeper into what analysts are projecting on the Lyra Therapeutics stock forecast page.
LYRA Momentum
LYRA Performance Numbers
Last year, LYRA revenue was $1.56M. During the past five year, LYRA's revenue has gone up by 4.6% per year. This was slower than the Biotechnology industry average of 28.56%.
You can analyze LYRA's earnings and revenue performance here.
Latest Insiders Trades at LYRA
In the past 12 months, executives and large shareholders at LYRA have bought more shares than they have sold.
Harlan Waksal, Executive Chair of LYRA, was the latest LYRA insider to buy. They bought $74,100.00 worth of LYRA shares on Nov 10, 2023.
Get more info about who owns LYRA shares here.
Does LYRA stock generate passive income?
No, Lyra Therapeutics doesn't provide an income stream by paying out dividends.
What do other traders have to say about LYRA?
One of the reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to find out what other investors have to say.
Step 5: Make your LYRA buy order
There are two primary options:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are usually fine for most investors. - Limit order: A limit order enables you to buy or sell a stock at a specific price (or better).
If you want to be sure you're buying or selling at a given price, use a limit order.
Press the Open Trade button and eToro will place your order.
If you require more assistance investing in stocks on eToro, click the helpful video below:
Step 6: Track your LYRA position
Now that you own some LYRA shares, you'll want to stay up-to-date on your shares.
Add LYRA to a watchlist to get notified of important updates regarding your LYRA stock.
LYRA Feed
How to Buy Stock in Lyra Therapeutics
To summarize, here are the 6 steps to buy stock in Lyra Therapeutics:
- Choose where to buy Lyra Therapeutics stock
- Sign up for your brokerage account
- Deposit funds into your investment account
- Evaluate Lyra Therapeutics stock
- Make your LYRA buy order
- Track your LYRA position
If you need a brokerage account, eToro is our favorite venue.
Get Started with eToro TodayIf you want to get updates on your investment in Lyra Therapeutics, click below.
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