Pulmatrix (NASDAQ:PULM) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Pulmatrix, Inc. (NASDAQ:PULM) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.18 and traded as low as $6.36. Pulmatrix shares last traded at $6.84, with a volume of 321,786 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on shares of Pulmatrix in a report on Tuesday, May 20th. They set a “sell” rating for the company.

Pulmatrix Price Performance

The firm’s 50 day moving average price is $7.18 and its two-hundred day moving average price is $6.96.

Pulmatrix (NASDAQ:PULM) last posted its earnings results on Thursday, May 15th. The biotechnology company reported ($0.50) earnings per share for the quarter. Pulmatrix had a negative return on equity of 94.97% and a negative net margin of 122.46%.

Hedge Funds Weigh In On Pulmatrix

An institutional investor recently bought a new position in Pulmatrix stock. SBI Securities Co. Ltd. bought a new position in Pulmatrix, Inc. (NASDAQ:PULM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 66,188 shares of the biotechnology company’s stock, valued at approximately $462,000. SBI Securities Co. Ltd. owned approximately 1.81% of Pulmatrix as of its most recent SEC filing. Institutional investors own 11.84% of the company’s stock.

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.