Pulmatrix (NASDAQ:PULM) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Pulmatrix (NASDAQ:PULM) in a note issued to investors on Saturday. The firm set a “hold” rating on the biotechnology company’s stock.

Pulmatrix Stock Performance

NASDAQ:PULM opened at $1.67 on Friday. The firm has a market cap of $6.10 million, a P/E ratio of -0.38 and a beta of 0.95. Pulmatrix has a 52 week low of $1.55 and a 52 week high of $3.23. The firm’s fifty day moving average is $1.81 and its 200-day moving average is $1.92.

Institutional Trading of Pulmatrix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PULM. Renaissance Technologies LLC grew its position in shares of Pulmatrix by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 121,920 shares of the biotechnology company’s stock valued at $560,000 after acquiring an additional 8,300 shares during the period. Vanguard Group Inc. grew its holdings in shares of Pulmatrix by 62.9% during the fourth quarter. Vanguard Group Inc. now owns 35,082 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 13,548 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Pulmatrix in the first quarter worth approximately $73,000. Mariner LLC purchased a new stake in Pulmatrix in the fourth quarter valued at approximately $97,000. Finally, Citadel Advisors LLC bought a new stake in Pulmatrix during the second quarter valued at approximately $141,000. 11.62% of the stock is owned by institutional investors.

Pulmatrix Company Profile

Pulmatrix, Inc, a clinical stage biotechnology company, discovers and develops inhaled therapies to prevent and treat respiratory and other diseases with unmet medical needs in the United States. The company focuses on developing products based on its inhaled small particles easily respirable and emitted (iSPERSE) technology, which enables delivery of small or large molecule drugs to the lungs by inhalation for local or systemic applications.