Vanguard Group Inc. Acquires 66,224 Shares of Beyond Air, Inc. (NASDAQ:XAIR)

Vanguard Group Inc. grew its holdings in Beyond Air, Inc. (NASDAQ:XAIR) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,399,298 shares of the company’s stock after purchasing an additional 66,224 shares during the quarter. Vanguard Group Inc. owned approximately 3.88% of Beyond Air worth $2,435,000 at the end of the most recent reporting period.

Separately, Rosalind Advisors Inc. bought a new position in shares of Beyond Air in the 1st quarter valued at about $1,572,000. Institutional investors own 31.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on XAIR. Truist Financial reduced their price objective on shares of Beyond Air from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. BTIG Research lowered shares of Beyond Air from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 25th. Roth Mkm reissued a “buy” rating and set a $2.00 price objective on shares of Beyond Air in a research note on Friday. Roth Capital raised shares of Beyond Air to a “strong-buy” rating in a research note on Friday. Finally, Piper Sandler reduced their price objective on shares of Beyond Air from $3.50 to $1.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $3.67.

Insider Activity

In other Beyond Air news, CEO Steven A. Lisi acquired 100,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $0.39 per share, for a total transaction of $39,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,722,785 shares of the company’s stock, valued at $671,886.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.00% of the stock is owned by corporate insiders.

Beyond Air Stock Performance

Shares of XAIR stock opened at $0.51 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.61 and a current ratio of 3.80. The company has a market capitalization of $23.59 million, a P/E ratio of -0.28 and a beta of -0.10. The company’s 50 day moving average price is $0.69 and its two-hundred day moving average price is $1.22. Beyond Air, Inc. has a 52 week low of $0.36 and a 52 week high of $3.35.

Beyond Air (NASDAQ:XAIR) last announced its earnings results on Tuesday, August 6th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.12. The firm had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.72 million. Beyond Air had a negative net margin of 5,197.76% and a negative return on equity of 203.12%. During the same period last year, the company posted ($0.45) EPS. On average, analysts expect that Beyond Air, Inc. will post -1.01 earnings per share for the current fiscal year.

Beyond Air 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.