Pulmatrix (NASDAQ:PULM) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Pulmatrix, Inc. (NASDAQ:PULM)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.75 and traded as low as $4.26. Pulmatrix shares last traded at $4.27, with a volume of 5,557 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Pulmatrix in a report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Pulmatrix Stock Down 3.6%

The stock has a fifty day moving average price of $4.75 and a 200-day moving average price of $5.66.

Pulmatrix (NASDAQ:PULM) last posted its quarterly earnings results on Thursday, October 16th. The biotechnology company reported ($0.24) earnings per share for the quarter.

Institutional Trading of Pulmatrix

An institutional investor recently raised its position in Pulmatrix stock. SBI Securities Co. Ltd. grew its position in Pulmatrix, Inc. (NASDAQ:PULM) by 15.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,565 shares of the biotechnology company’s stock after purchasing an additional 8,208 shares during the period. SBI Securities Co. Ltd.’s holdings in Pulmatrix were worth $418,000 at the end of the most recent quarter. 11.84% of the stock is currently owned by hedge funds and other institutional investors.

About Pulmatrix

Pulmatrix, Inc, a clinical stage biotechnology company, focused on development of novel inhaled therapeutic products to prevent and treat respiratory and other diseases with unmet medical needs in the United States. The company offers iSPERSE, an engineered dry powder delivery platform, which enables delivery of small or large molecule drugs to the lungs by inhalation for local or systemic applications.