Beyond Air, Inc. (NASDAQ:XAIR – Get Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 124,457 shares, a growth of 88.6% from the April 15th total of 65,992 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 418,301 shares, the short-interest ratio is presently 0.3 days.
Institutional Trading of Beyond Air
Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Beyond Air by 1.5% during the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock worth $144,000 after purchasing an additional 12,598 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Beyond Air during the third quarter worth approximately $1,753,000. Osaic Holdings Inc. increased its stake in shares of Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares during the period. Virtu Financial LLC bought a new position in shares of Beyond Air during the third quarter worth approximately $48,000. Finally, Alpine Global Management LLC bought a new position in shares of Beyond Air during the third quarter worth approximately $25,000. Institutional investors own 31.50% of the company’s stock.
Beyond Air Stock Down 7.9%
XAIR traded down $0.04 on Tuesday, hitting $0.44. 133,874 shares of the company were exchanged, compared to its average volume of 4,979,130. Beyond Air has a 12 month low of $0.42 and a 12 month high of $5.84. The company has a market cap of $5.84 million, a PE ratio of -0.08 and a beta of 0.30. The company has a debt-to-equity ratio of 2.65, a quick ratio of 4.77 and a current ratio of 5.12. The stock’s fifty day moving average is $0.65 and its 200-day moving average is $1.02.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on XAIR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Air in a research report on Friday, April 24th. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 price objective on shares of Beyond Air in a research report on Friday, March 27th. Rodman & Renshaw began coverage on Beyond Air in a research report on Tuesday, January 20th. They set a “buy” rating for the company. Finally, Wall Street Zen raised Beyond Air to a “sell” rating in a research report on Saturday, March 7th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.
Read Our Latest Report on Beyond Air
About Beyond Air
Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.
The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.
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