Beyond Air (NASDAQ:XAIR) Announces Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Beyond Air (NASDAQ:XAIR) announced its quarterly earnings results on Friday. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.20), Zacks reports. Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%.

Beyond Air Price Performance

XAIR opened at $0.48 on Friday. The company has a quick ratio of 4.77, a current ratio of 5.12 and a debt-to-equity ratio of 2.65. Beyond Air has a 52-week low of $0.33 and a 52-week high of $4.78. The company has a 50 day moving average of $0.46 and a two-hundred day moving average of $0.81. The company has a market cap of $6.30 million, a P/E ratio of -0.09 and a beta of 0.26.

Hedge Funds Weigh In On Beyond Air

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Beyond Air by 57.5% during the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after acquiring an additional 24,695 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Beyond Air during the 3rd quarter worth $1,753,000. Virtu Financial LLC acquired a new stake in Beyond Air in the 3rd quarter valued at $48,000. Finally, Osaic Holdings Inc. increased its holdings in Beyond Air by 26.4% in 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 in the last quarter. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Air in a research report on Friday, April 24th. Wall Street Zen upgraded Beyond Air to a “sell” rating in a report on Saturday, March 7th. Finally, D. Boral Capital reissued a “buy” rating and set a $10.00 price target on shares of Beyond Air in a research report on Friday, March 27th. Two 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 company has an average rating of “Hold” and a consensus target price of $10.00.

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.