Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Rises By 150.9%

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 331,830 shares, a growth of 150.9% from the June 15th total of 132,235 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 400,413 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Beyond Air

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Beyond Air by 1.5% in the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after buying an additional 12,598 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Beyond Air during the 3rd quarter worth about $1,753,000. Osaic Holdings Inc. grew its position in shares of Beyond Air by 26.4% during the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after buying an additional 34,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Beyond Air in the 3rd quarter valued at about $48,000. Finally, Alpine Global Management LLC bought a new stake in shares of Beyond Air in the 3rd quarter valued at about $25,000. 31.50% of the stock is owned by institutional investors and hedge funds.

Beyond Air Trading Down 2.7%

Shares of XAIR traded down $0.16 on Wednesday, reaching $5.61. 28,418 shares of the company’s stock were exchanged, compared to its average volume of 182,664. The business has a 50 day moving average price of $8.75 and a two-hundred day moving average price of $15.14. Beyond Air has a 12 month low of $5.30 and a 12 month high of $95.60. The stock has a market capitalization of $4.04 million, a P/E ratio of -0.06 and a beta of 0.22. The company has a current ratio of 3.80, a quick ratio of 3.59 and a debt-to-equity ratio of 3.48.

Beyond Air (NASDAQ:XAIR) last released its earnings results on Friday, June 26th. The company reported ($15.40) EPS for the quarter, missing analysts’ consensus estimates of ($11.33) by ($4.07). The business had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.30 million. Beyond Air had a negative return on equity of 350.00% and a negative net margin of 432.99%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. D. Boral Capital restated a “buy” rating and set a $200.00 target price on shares of Beyond Air in a research report on Friday, March 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Beyond Air in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Beyond Air presently has a consensus rating of “Hold” and an average target price of $200.00.

Beyond Air Company Profile

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.