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

Pulmatrix, Inc. (NASDAQ:PULM) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.28 and traded as high as $8.14. Pulmatrix shares last traded at $8.11, with a volume of 26,003 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Pulmatrix in a research report on Sunday, January 5th. They issued a “hold” rating on the stock.

Pulmatrix Stock Performance

The business’s fifty day moving average price is $7.28 and its two-hundred day moving average price is $4.91. The stock has a market capitalization of $29.62 million, a P/E ratio of -3.07 and a beta of 1.66.

Institutional Investors Weigh In On Pulmatrix

An institutional investor recently raised its position in Pulmatrix stock. Geode Capital Management LLC increased its stake in shares of Pulmatrix, Inc. (NASDAQ:PULM) by 24.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,871 shares of the biotechnology company’s stock after purchasing an additional 7,290 shares during the quarter. Geode Capital Management LLC owned 1.01% of Pulmatrix worth $257,000 at the end of the most recent quarter. 11.84% of the stock is owned by hedge funds and other institutional investors.

Pulmatrix Company Profile

Pulmatrix, Inc, a clinical stage biotechnology company, focused on development of novel inhaled therapeutic products to prevent and treat respiratory and other diseases with unmet medical needs in the United States. The company offers iSPERSE, an engineered dry powder delivery platform, which enables delivery of small or large molecule drugs to the lungs by inhalation for local or systemic applications.