BTIG Research lowered shares of Beyond Air (NASDAQ:XAIR – Free Report) from a buy rating to a neutral rating in a research note published on Tuesday, Marketbeat Ratings reports.
Separately, Truist Financial lowered their price target on Beyond Air from $10.00 to $8.00 and set a buy rating for the company in a research report on Tuesday, April 30th.
Read Our Latest Stock Analysis on XAIR
Beyond Air Trading Down 7.4 %
Beyond Air (NASDAQ:XAIR – Get Free Report) last released its quarterly earnings results on Monday, June 24th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.11. Beyond Air had a negative return on equity of 203.12% and a negative net margin of 5,197.76%. The business had revenue of $0.47 million during the quarter, compared to analyst estimates of $0.71 million. During the same period last year, the business posted ($0.67) earnings per share. On average, equities analysts expect that Beyond Air will post -1.18 earnings per share for the current year.
Institutional Trading of Beyond Air
Several hedge funds have recently modified their holdings of XAIR. Rosalind Advisors Inc. acquired a new stake in shares of Beyond Air in the first quarter valued at $1,572,000. Gendell Jeffrey L raised its stake in shares of Beyond Air by 30.4% in the first quarter. Gendell Jeffrey L now owns 1,461,071 shares of the company’s stock valued at $2,542,000 after acquiring an additional 340,774 shares in the last quarter. Wealth Effects LLC raised its stake in shares of Beyond Air by 27.6% in the fourth quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock valued at $870,000 after acquiring an additional 96,150 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Beyond Air by 5.0% in the first quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock valued at $2,435,000 after acquiring an additional 66,224 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in Beyond Air in the fourth quarter valued at $70,000. 31.50% of the stock is currently owned by institutional investors and hedge funds.
Beyond Air Company Profile
Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.
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