Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Up 150.9% in June

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 331,830 shares, an increase of 150.9% from the June 15th total of 132,235 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average trading volume of 400,413 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Beyond Air

Several large investors have recently added to or reduced their stakes in XAIR. Alyeska Investment Group L.P. bought a new stake in Beyond Air in the third quarter valued at $1,753,000. Osaic Holdings Inc. grew its position in shares of Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after acquiring an additional 34,000 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Beyond Air by 57.5% during the fourth 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 during the last quarter. Virtu Financial LLC acquired a new stake in shares of Beyond Air in the 3rd quarter worth about $48,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Beyond Air in the 3rd quarter worth about $25,000. 31.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XAIR has been the subject of a number of research reports. D. Boral Capital reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Beyond Air in a report on Friday, March 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Beyond Air presently has an average rating of “Hold” and a consensus price target of $200.00.

Beyond Air Stock Performance

Shares of XAIR stock opened at $7.49 on Tuesday. The company has a market cap of $107.93 million, a P/E ratio of -1.70 and a beta of 0.22. The business has a 50 day moving average of $8.87 and a two-hundred day moving average of $15.22. Beyond Air has a 52 week low of $6.69 and a 52 week high of $95.60. The company has a quick ratio of 3.59, a current ratio of 3.80 and a debt-to-equity ratio of 3.48.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings results on Friday, June 26th. The company reported ($15.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($11.33) by ($4.07). The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.30 million. Beyond Air had a negative return on equity of 350.00% and a negative net margin of 432.99%.

Beyond Air Company Profile

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.