Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Down 93.5% in July

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 21,447 shares, a decline of 93.5% from the June 30th total of 331,830 shares. Based on an average daily volume of 23,934 shares, the short-interest ratio is presently 0.9 days. Currently, 3.3% of the shares of the company are sold short.

Hedge Funds Weigh In On Beyond Air

A number of institutional investors have recently added to or reduced their stakes in XAIR. Geode Capital Management LLC raised its holdings in shares of Beyond Air by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after acquiring an additional 12,598 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Beyond Air by 26.4% in the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Beyond Air in the third quarter worth approximately $48,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Beyond Air in the third quarter valued at approximately $1,753,000. 31.50% of the stock is currently owned by institutional investors.

Beyond Air Price Performance

XAIR traded down $0.31 during trading on Friday, reaching $5.16. 8,742 shares of the company were exchanged, compared to its average volume of 20,526. Beyond Air has a 12-month low of $5.16 and a 12-month high of $95.60. The company’s 50-day moving average is $8.00 and its two-hundred day moving average is $14.62. The company has a quick ratio of 3.59, a current ratio of 3.80 and a debt-to-equity ratio of 3.48. The company has a market cap of $3.72 million, a price-to-earnings ratio of -0.06 and a beta of 0.22.

Beyond Air (NASDAQ:XAIR) last posted its 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). Beyond Air had a negative net margin of 432.99% and a negative return on equity of 350.00%. The company had revenue of $1.91 million for the quarter, compared to analysts’ expectations of $2.30 million.

Analysts Set New Price Targets

XAIR has been the subject of several analyst 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 Tuesday. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $200.00.

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.