BTIG Research downgraded shares of Beyond Air (NASDAQ:XAIR – Free Report) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports.
Separately, Truist Financial decreased their target price on Beyond Air from $10.00 to $8.00 and set a buy rating for the company in a research report on Tuesday, April 30th.
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Beyond Air Stock Down 51.5 %
Beyond Air (NASDAQ:XAIR – Get Free Report) last posted its earnings results on Monday, June 24th. The company reported ($0.36) earnings per share 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. During the same quarter last year, the business earned ($0.67) earnings per share. Sell-side analysts forecast that Beyond Air will post -1.9 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Beyond Air
Hedge funds have recently bought and sold shares of the company. Scotia Capital Inc. acquired a new position in shares of Beyond Air during the 3rd quarter worth about $31,000. Keel Point LLC acquired a new position in shares of Beyond Air during the fourth quarter worth approximately $30,000. DAVENPORT & Co LLC bought a new stake in shares of Beyond Air in the fourth quarter valued at approximately $70,000. Deutsche Bank AG boosted its position in shares of Beyond Air by 1.9% in the third quarter. Deutsche Bank AG now owns 407,565 shares of the company’s stock valued at $941,000 after acquiring an additional 7,565 shares during the period. Finally, Wealth Effects LLC grew its stake in shares of Beyond Air by 27.6% in the fourth quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock worth $870,000 after acquiring an additional 96,150 shares during 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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