Beyond Air (NASDAQ:XAIR) Shares Down 0.7% – Time to Sell?

Beyond Air, Inc. (NASDAQ:XAIR)’s stock price dropped 0.7% during trading on Monday . The company traded as low as $0.40 and last traded at $0.4101. Approximately 212,844 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 242,644 shares. The stock had previously closed at $0.4128.

Wall Street Analyst Weigh In

XAIR has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Air in a research report on Friday, April 24th. Wall Street Zen upgraded Beyond Air to a “sell” rating in a research report on Saturday, March 7th. Finally, D. Boral Capital restated a “buy” rating and issued a $10.00 target price on shares of Beyond Air in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.00.

Beyond Air Price Performance

The company has a quick ratio of 4.77, a current ratio of 5.12 and a debt-to-equity ratio of 2.65. The company has a market cap of $5.41 million, a PE ratio of -0.08 and a beta of 0.27. The stock has a 50-day simple moving average of $0.54 and a 200 day simple moving average of $0.89.

Institutional Investors Weigh In On Beyond Air

Several institutional investors and hedge funds have recently modified their holdings of XAIR. Alpine Global Management LLC purchased a new stake in shares of Beyond Air in the 3rd quarter valued at $25,000. Osaic Holdings Inc. raised its holdings in shares of Beyond Air by 26.4% in 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 period. Virtu Financial LLC purchased a new stake in shares of Beyond Air in the 3rd quarter valued at $48,000. Geode Capital Management LLC raised its holdings in shares of Beyond Air by 57.5% in the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after buying an additional 24,695 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Beyond Air in the 3rd quarter valued at $1,753,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

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.