Pulmatrix (NASDAQ:PULM) Share Price Passes Above 50-Day Moving Average – Here’s Why

Pulmatrix, Inc. (NASDAQ:PULM)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.36 and traded as high as $1.7250. Pulmatrix shares last traded at $1.64, with a volume of 27,450 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pulmatrix in a research report on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pulmatrix presently has an average rating of “Sell”.

Pulmatrix Stock Down 1.8%

The company has a market cap of $5.99 million, a price-to-earnings ratio of -1.33 and a beta of 1.95. The business has a fifty day simple moving average of $1.36 and a 200 day simple moving average of $2.04.

Pulmatrix (NASDAQ:PULM) last announced its quarterly earnings results on Friday, May 15th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Pulmatrix

A hedge fund recently bought a new stake in Pulmatrix stock. DRW Securities LLC bought a new position in shares of Pulmatrix, Inc. (NASDAQ:PULM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,505 shares of the biotechnology company’s stock, valued at approximately $46,000. 11.84% of the stock is currently owned by institutional investors and hedge funds.

About Pulmatrix

Pulmatrix, Inc is a clinical-stage biopharmaceutical company dedicated to developing inhaled therapies for patients suffering from respiratory diseases. The company’s proprietary iSPERSE® dry-powder formulation platform produces fine microparticles optimized for deep-lung delivery, rapid absorption and consistent dosing, addressing challenges often encountered with traditional inhalation approaches.

Among Pulmatrix’s lead programs is PUR1900, an inhaled therapy designed to treat pulmonary fungal infections such as allergic bronchopulmonary aspergillosis (ABPA).