Beyond Air (NASDAQ:XAIR) Downgraded by Zacks Investment Research

Beyond Air (NASDAQ:XAIRGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Beyond Air Inc. is a clinical-stage medical device and biopharmaceutical company. It is engaged in developing a Nitric Oxide Generator and Delivery System. The company’s principal product is AirNOvent which is in clinical stage. Beyond Air Inc., formerly known as AIT Therapeutics Inc., is based in Garden City, New York. “

Shares of XAIR opened at $6.71 on Thursday. Beyond Air has a 52-week low of $4.62 and a 52-week high of $16.41. The business’s fifty day moving average is $7.08 and its 200-day moving average is $9.24. The firm has a market cap of $200.17 million, a price-to-earnings ratio of -5.59 and a beta of -0.53.

Beyond Air (NASDAQ:XAIRGet Rating) last issued its quarterly earnings results on Thursday, February 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.04). During the same quarter in the prior year, the company posted ($0.33) earnings per share. On average, equities analysts expect that Beyond Air will post -1.18 earnings per share for the current fiscal year.

In other news, Director Robert Carey acquired 20,000 shares of Beyond Air stock in a transaction that occurred on Tuesday, April 5th. The shares were acquired at an average price of $6.71 per share, for a total transaction of $134,200.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 43,685 shares of company stock worth $293,447 in the last 90 days. 11.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Secure Asset Management LLC grew its position in Beyond Air by 6.5% during the 3rd quarter. Secure Asset Management LLC now owns 16,384 shares of the company’s stock worth $182,000 after acquiring an additional 997 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Beyond Air by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,567 shares of the company’s stock worth $128,000 after acquiring an additional 2,182 shares during the last quarter. Baldwin Brothers LLC MA grew its position in Beyond Air by 9.5% during the 4th quarter. Baldwin Brothers LLC MA now owns 40,500 shares of the company’s stock worth $382,000 after acquiring an additional 3,500 shares during the last quarter. Northern Trust Corp grew its position in Beyond Air by 5.8% during the 4th quarter. Northern Trust Corp now owns 72,713 shares of the company’s stock worth $686,000 after acquiring an additional 4,003 shares during the last quarter. Finally, State Street Corp grew its position in shares of Beyond Air by 6.3% in the 4th quarter. State Street Corp now owns 70,400 shares of the company’s stock valued at $665,000 after buying an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 15.63% of the company’s stock.

About Beyond Air (Get Rating)

Beyond Air, Inc is a clinical-stage medical device and biopharmaceutical company. It engages in the developing a nitric oxide generator and delivery system that uses nitric oxide generated from ambient air and delivers precise amounts of nitric oxide to the lungs for the potential treatment of respiratory and other diseases.

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