Short Interest in Pulmatrix Inc (NASDAQ:PULM) Rises By 18.9%

Pulmatrix Inc (NASDAQ:PULM) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 710,300 shares, an increase of 18.9% from the June 30th total of 597,500 shares. Currently, 9.3% of the company’s stock are short sold. Based on an average daily volume of 344,000 shares, the days-to-cover ratio is presently 2.1 days.

NASDAQ:PULM traded down $0.04 during trading hours on Wednesday, hitting $0.83. 144,300 shares of the company traded hands, compared to its average volume of 1,047,982. The business’s 50-day simple moving average is $0.89. Pulmatrix has a one year low of $0.72 and a one year high of $4.70. The firm has a market cap of $16.65 million, a P/E ratio of -0.17 and a beta of 1.31.

Pulmatrix (NASDAQ:PULM) last issued its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.01). Research analysts predict that Pulmatrix will post -1.9 earnings per share for the current year.

PULM has been the subject of several research reports. Zacks Investment Research downgraded shares of Pulmatrix from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. HC Wainwright restated a “buy” rating on shares of Pulmatrix in a research note on Tuesday, April 16th. Finally, ValuEngine upgraded Pulmatrix from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.

A hedge fund recently raised its stake in Pulmatrix stock. Vanguard Group Inc. raised its stake in shares of Pulmatrix Inc (NASDAQ:PULM) by 26.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,634 shares of the biotechnology company’s stock after acquiring an additional 18,250 shares during the period. Vanguard Group Inc. owned about 0.45% of Pulmatrix worth $81,000 as of its most recent SEC filing. 3.52% of the stock is currently owned by institutional investors and hedge funds.

About Pulmatrix

Pulmatrix, Inc, a clinical stage biopharmaceutical company, develops inhaled therapies to address serious pulmonary diseases using its inhaled Small Particles Easily Respirable and Emitted (iSPERSE) technology. Its proprietary product pipeline focuses on advancing treatments for serious lung diseases, including Pulmazole, an inhaled anti-fungal for patients with allergic bronchopulmonary aspergillosis; and PUR1800, kinase inhibitor for patients with obstructive lung diseases, such as asthma and chronic obstructive pulmonary disease (COPD).

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