Beyond Air, Inc. (NASDAQ:XAIR) Sees Significant Decline in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 531,030 shares, a drop of 78.2% from the January 15th total of 2,435,557 shares. Currently, 8.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,558,559 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 1,558,559 shares, the days-to-cover ratio is currently 0.3 days. Currently, 8.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of XAIR. Alpine Global Management LLC bought a new stake in Beyond Air during the third quarter worth $25,000. Osaic Holdings Inc. lifted its stake in Beyond Air by 26.4% during the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after acquiring an additional 34,000 shares in the last quarter. Virtu Financial LLC purchased a new position in Beyond Air during the 3rd quarter worth $48,000. Geode Capital Management LLC grew its stake 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 worth $49,000 after acquiring an additional 24,695 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Beyond Air in the 3rd quarter worth $1,753,000. Institutional investors own 31.50% of the company’s stock.

Beyond Air Stock Performance

NASDAQ XAIR opened at $1.08 on Wednesday. The company has a market cap of $8.65 million, a P/E ratio of -0.14 and a beta of 0.39. The company has a fifty day simple moving average of $1.15 and a 200 day simple moving average of $1.84. The company has a current ratio of 4.24, a quick ratio of 3.73 and a debt-to-equity ratio of 0.77. Beyond Air has a 12-month low of $0.67 and a 12-month high of $10.40.

Beyond Air (NASDAQ:XAIR) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.15). The business had revenue of $1.82 million during the quarter, compared to the consensus estimate of $2.54 million. Beyond Air had a negative net margin of 632.51% and a negative return on equity of 261.08%. Sell-side analysts predict that Beyond Air will post -0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.