Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Declines By 93.5%

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 21,447 shares, a decline of 93.5% from the June 30th total of 331,830 shares. Based on an average trading volume of 23,934 shares, the days-to-cover ratio is presently 0.9 days. Approximately 3.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of XAIR. Virtu Financial LLC acquired a new position in Beyond Air in the 3rd quarter worth about $48,000. Geode Capital Management LLC raised its stake in shares of Beyond Air by 57.5% during the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after purchasing an additional 24,695 shares in the last quarter. Osaic Holdings Inc. lifted its holdings 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 valued at $29,000 after buying an additional 34,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Beyond Air during the 3rd quarter valued at about $1,753,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Beyond Air in a research note on Friday, March 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Beyond Air presently has a consensus rating of “Hold” and a consensus price target of $200.00.

Beyond Air Stock Down 5.7%

NASDAQ XAIR traded down $0.31 during trading on Friday, reaching $5.16. 8,742 shares of the company’s stock were exchanged, compared to its average volume of 20,526. Beyond Air has a fifty-two week low of $5.16 and a fifty-two week high of $95.60. The firm has a market capitalization of $3.72 million, a PE 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. The company’s fifty day simple moving average is $8.00 and its 200-day simple moving average is $14.62.

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

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.