Beyond Air (NASDAQ:XAIR – Free Report) had its price target trimmed by Piper Sandler from $7.00 to $3.50 in a report issued on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.
Other equities analysts also recently issued reports about the stock. BTIG Research downgraded shares of Beyond Air from a buy rating to a neutral rating in a report on Tuesday. Truist Financial dropped their target price on shares of Beyond Air from $10.00 to $8.00 and set a buy rating on the stock in a research note on Tuesday, April 30th.
Check Out Our Latest Stock Analysis on Beyond Air
Beyond Air Stock Performance
Beyond Air (NASDAQ:XAIR – Get Free Report) last issued its quarterly earnings results on Monday, June 24th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.11. The company had revenue of $0.47 million for the quarter, compared to the consensus estimate of $0.71 million. Beyond Air had a negative net margin of 5,197.76% and a negative return on equity of 203.12%. During the same period in the prior year, the firm posted ($0.67) EPS. Research analysts predict that Beyond Air will post -1.18 EPS for the current year.
Hedge Funds Weigh In On Beyond Air
A number of hedge funds have recently added to or reduced their stakes in XAIR. Scotia Capital Inc. bought a new position in shares of Beyond Air during the third quarter valued at approximately $31,000. Keel Point LLC bought a new position in shares of Beyond Air during the fourth quarter valued at approximately $30,000. DAVENPORT & Co LLC bought a new position in shares of Beyond Air during the fourth quarter valued at approximately $70,000. Deutsche Bank AG boosted its stake in shares of Beyond Air by 1.9% during the third quarter. Deutsche Bank AG now owns 407,565 shares of the company’s stock valued at $941,000 after purchasing an additional 7,565 shares in the last quarter. Finally, Wealth Effects LLC boosted its stake in shares of Beyond Air by 27.6% during the fourth quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock valued at $870,000 after purchasing an additional 96,150 shares in the last quarter. 31.50% of the stock is currently owned by institutional investors.
Beyond Air Company Profile
Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.
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