Beyond Air (NASDAQ:XAIR) Price Target Lowered to $8.00 at Truist Financial

Beyond Air (NASDAQ:XAIR) had its price objective trimmed by Truist Financial from $10.00 to $8.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Beyond Air Trading Up 0.9 %

Shares of XAIR stock opened at $1.08 on Tuesday. Beyond Air has a 1 year low of $1.06 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.39 and a quick ratio of 3.26. The stock’s 50 day simple moving average is $1.58 and its two-hundred day simple moving average is $1.73. The company has a market cap of $38.92 million, a PE ratio of -0.51 and a beta of -0.18.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings results on Monday, February 12th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.11. The business had revenue of $0.39 million during the quarter, compared to analysts’ expectations of $0.49 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. Research analysts predict that Beyond Air will post -1.93 earnings per share for the current year.

Institutional Investors Weigh In On Beyond Air

Hedge funds and other institutional investors have recently modified their holdings of the business. Scotia Capital Inc. purchased a new stake in shares of Beyond Air in the third quarter worth approximately $31,000. Keel Point LLC bought a new position in Beyond Air in the fourth quarter worth approximately $30,000. DAVENPORT & Co LLC bought a new position in Beyond Air in the fourth quarter worth approximately $70,000. Bank of New York Mellon Corp grew its stake in Beyond Air by 9.0% in the third quarter. Bank of New York Mellon Corp now owns 76,796 shares of the company’s stock worth $177,000 after purchasing an additional 6,371 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Beyond Air by 1.9% in the third quarter. Deutsche Bank AG now owns 407,565 shares of the company’s stock worth $941,000 after purchasing an additional 7,565 shares in the last quarter. 31.50% of the stock is currently owned by hedge funds and other institutional investors.

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.