Beyond Air (NASDAQ:XAIR) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Beyond Air (NASDAQ:XAIR) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $10.00 price target on the stock.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Beyond Air in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Beyond Air Stock Performance

Shares of XAIR stock opened at $3.59 on Tuesday. The company has a market capitalization of $3.45 million, a P/E ratio of -0.05 and a beta of 0.13. The company has a debt-to-equity ratio of 7.81, a quick ratio of 3.12 and a current ratio of 3.31. The stock has a 50 day moving average price of $6.22 and a two-hundred day moving average price of $10.32. Beyond Air has a fifty-two week low of $3.52 and a fifty-two week high of $95.60.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($11.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.80) by ($0.20). The business had revenue of $1.77 million during the quarter, compared to the consensus estimate of $1.93 million. Beyond Air had a negative return on equity of 440.26% and a negative net margin of 435.71%.

Insiders Place Their Bets

In other news, CEO Robert Scott Goodman bought 34,722 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were acquired at an average cost of $5.76 per share, with a total value of $199,998.72. Following the completion of the transaction, the chief executive officer owned 34,822 shares of the company’s stock, valued at approximately $200,574.72. This trade represents a 34,722.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Beyond Air by 57.5% during the fourth quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after purchasing an additional 24,695 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Beyond Air in the 3rd quarter worth approximately $1,753,000. Virtu Financial LLC bought a new position in shares of Beyond Air during the third quarter worth $48,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Beyond Air by 26.4% during the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares during the last quarter. Hedge funds and other institutional investors own 31.50% of the company’s stock.

About Beyond Air

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.