Wall Street Zen Upgrades Beyond Air (NASDAQ:XAIR) to “Sell”

Beyond Air (NASDAQ:XAIR) was upgraded by equities research analysts at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also issued reports on the company. Rodman & Renshaw started coverage on Beyond Air in a research note on Tuesday, January 20th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. Finally, D. Boral Capital restated a “buy” rating and set a $11.00 price target on shares of Beyond Air in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

Beyond Air Stock Down 2.4%

Shares of NASDAQ XAIR opened at $0.81 on Friday. The firm’s 50-day moving average price is $1.14 and its 200-day moving average price is $1.61. The company has a current ratio of 5.12, a quick ratio of 4.77 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $8.52 million, a price-to-earnings ratio of -0.15 and a beta of 0.41. Beyond Air has a 12-month low of $0.67 and a 12-month high of $6.44.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings results on Friday, February 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%. The business had revenue of $2.19 million during the quarter, compared to the consensus estimate of $2.15 million. On average, equities research analysts anticipate that Beyond Air will post -0.79 EPS for the current fiscal year.

Institutional Trading of Beyond Air

Several institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC purchased a new position in shares of Beyond Air during the third quarter valued at approximately $25,000. Virtu Financial LLC purchased a new stake in shares of Beyond Air in the third quarter worth approximately $48,000. Geode Capital Management LLC raised its holdings in shares of Beyond Air by 57.5% in the fourth quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after buying an additional 24,695 shares during the period. Osaic Holdings Inc. lifted its stake 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 worth $29,000 after acquiring an additional 34,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Beyond Air during the 3rd quarter valued at $1,753,000. Institutional investors own 31.50% of the company’s stock.

About Beyond Air

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.