Pulmatrix (NASDAQ:PULM) Shares Cross Above Fifty Day Moving Average of $1.13

Pulmatrix Inc (NASDAQ:PULM)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.13 and traded as high as $1.20. Pulmatrix shares last traded at $1.19, with a volume of 168,797 shares trading hands.

PULM has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Pulmatrix in a research note on Thursday, September 24th. Zacks Investment Research raised Pulmatrix from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research note on Friday, August 14th.

The stock has a market cap of $40.94 million, a P/E ratio of -1.89 and a beta of 1.51. The company has a fifty day moving average price of $1.13 and a 200 day moving average price of $1.40.

Pulmatrix (NASDAQ:PULM) last released its quarterly earnings data on Friday, August 7th. The biotechnology company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.33. The firm had revenue of $3.50 million during the quarter. Pulmatrix had a negative return on equity of 115.55% and a negative net margin of 143.83%. On average, analysts predict that Pulmatrix Inc will post -0.77 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC bought a new stake in Pulmatrix during the second quarter worth $32,000. Bank of Montreal Can grew its holdings in Pulmatrix by 4.3% during the second quarter. Bank of Montreal Can now owns 273,936 shares of the biotechnology company’s stock worth $449,000 after buying an additional 11,333 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Pulmatrix during the second quarter worth $53,000. Virtu Financial LLC bought a new stake in Pulmatrix during the second quarter worth $160,000. Finally, XTX Markets LLC bought a new stake in Pulmatrix during the second quarter worth $35,000. Institutional investors and hedge funds own 15.27% of the company’s stock.

About Pulmatrix (NASDAQ:PULM)

Pulmatrix, Inc, a clinical stage biopharmaceutical company, develops inhaled therapies to address serious pulmonary diseases using its inhaled Small Particles Easily Respirable and Emitted (iSPERSE) technology. Its proprietary product pipeline focuses on advancing treatments for serious lung diseases, including Pulmazole, an inhaled anti-fungal for patients with allergic bronchopulmonary aspergillosis; and PUR1800, kinase inhibitor for patients with obstructive lung diseases, such as asthma and chronic obstructive pulmonary disease (COPD).

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