By Denny Jacob
Lyra Therapeutics shares rose 11% to $3.11 in after-hours trading on Friday following a flurry of insider purchases.
The stock, which closed up 3.7% at $2.80, is down 11% on the year and 51% in the last 12 months.
A report on Friday showed that shareholder Perceptive Advisors purchased 3.6 million shares at $2.49 a share, raising its total stake to roughly 12.8 million shares. Shareholder Nbvm GP bought 1.8 million shares at $2.43 a share, bringing its total to about 5.9 million shares. Director Edward Anderson executed a purchase matching Nbvm’s, giving him around 6 million shares.
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