Insider Buying: Beyond Air (NASDAQ:XAIR) CEO Purchases 34,722 Shares

Beyond Air, Inc. (NASDAQ:XAIR) CEO Robert Scott Goodman acquired 34,722 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $5.76 per share, for a total transaction of $199,998.72. Following the completion of the transaction, the chief executive officer directly owned 34,822 shares of the company’s stock, valued at $200,574.72. This trade represents a 34,722.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Beyond Air Stock Down 2.6%

Shares of XAIR traded down $0.14 during midday trading on Friday, reaching $5.28. 27,954 shares of the company were exchanged, compared to its average volume of 168,749. Beyond Air, Inc. has a 1-year low of $5.02 and a 1-year high of $95.60. The stock has a 50-day moving average price of $7.75 and a 200-day moving average price of $14.27. The company has a current ratio of 3.80, a quick ratio of 3.59 and a debt-to-equity ratio of 3.48. The company has a market cap of $3.81 million, a price-to-earnings ratio of -0.06 and a beta of 0.22.

Beyond Air (NASDAQ:XAIR) last posted its earnings results on Friday, June 26th. The company reported ($15.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($11.33) by ($4.07). Beyond Air had a negative net margin of 432.99% and a negative return on equity of 350.00%. The company had revenue of $1.91 million during the quarter, compared to analyst estimates of $2.30 million.

Hedge Funds Weigh In On Beyond Air

A number of institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Beyond Air in the 3rd quarter worth $48,000. Geode Capital Management LLC grew its stake in shares of Beyond Air by 57.5% during the fourth quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after acquiring an additional 24,695 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after acquiring an additional 34,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Beyond Air during the third quarter worth about $1,753,000. Institutional investors and hedge funds own 31.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Air in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $200.00.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.