Pulmatrix Inc (NASDAQ:PULM) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 644,600 shares, a drop of 9.2% from the July 31st total of 710,300 shares. Based on an average trading volume of 259,700 shares, the short-interest ratio is presently 2.5 days. Currently, 3.4% of the shares of the stock are sold short.
An institutional investor recently raised its position in Pulmatrix stock. Vanguard Group Inc. lifted its holdings in shares of Pulmatrix Inc (NASDAQ:PULM) by 26.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 87,634 shares of the biotechnology company’s stock after acquiring an additional 18,250 shares during the period. Vanguard Group Inc. owned approximately 0.45% of Pulmatrix worth $81,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 9.17% of the company’s stock.
A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Pulmatrix from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Zacks Investment Research raised shares of Pulmatrix from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a report on Thursday, August 15th.
Pulmatrix Company Profile
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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