Insider Buying: Beyond Air (NASDAQ:XAIR) CFO Acquires 4,340 Shares

Beyond Air, Inc. (NASDAQ:XAIR) CFO Daniel Moorhead purchased 4,340 shares of the stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average cost of $5.76 per share, with a total value of $24,998.40. Following the transaction, the chief financial officer directly owned 4,340 shares in the company, valued at approximately $24,998.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Beyond Air Stock Down 2.6%

XAIR stock traded down $0.14 during trading on Friday, hitting $5.28. 27,954 shares of the company’s stock traded hands, compared to its average volume of 168,749. The firm has a market capitalization of $3.81 million, a P/E ratio of -0.06 and a beta of 0.22. The business has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $14.27. The company has a quick ratio of 3.59, a current ratio of 3.80 and a debt-to-equity ratio of 3.48. Beyond Air, Inc. has a 1 year low of $5.02 and a 1 year high of $95.60.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Air in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Beyond Air currently has an average rating of “Hold” and an average target price of $200.00.

Institutional Trading of Beyond Air

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Beyond Air by 1.5% during the 2nd 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 last quarter. Virtu Financial LLC purchased a new stake in shares of Beyond Air in the third quarter worth about $48,000. Osaic Holdings Inc. boosted its stake in shares of Beyond Air by 26.4% in the second 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 last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Beyond Air during the third quarter worth about $1,753,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

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.