Kingdon Capital Management L.L.C. Grows Position in Beyond Air, Inc. (NASDAQ:XAIR)

Kingdon Capital Management L.L.C. grew its stake in Beyond Air, Inc. (NASDAQ:XAIR) by 71.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,363,562 shares of the company’s stock after acquiring an additional 567,526 shares during the quarter. Beyond Air comprises approximately 1.7% of Kingdon Capital Management L.L.C.’s portfolio, making the stock its 26th biggest holding. Kingdon Capital Management L.L.C. owned approximately 4.53% of Beyond Air worth $9,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in Beyond Air in the 4th quarter valued at about $87,000. Tower Research Capital LLC TRC acquired a new position in shares of Beyond Air in the first quarter valued at approximately $76,000. UBS Group AG purchased a new position in shares of Beyond Air during the first quarter valued at approximately $30,000. Gendell Jeffrey L boosted its position in Beyond Air by 5.6% during the first quarter. Gendell Jeffrey L now owns 744,003 shares of the company’s stock worth $5,022,000 after acquiring an additional 39,624 shares during the last quarter. Finally, Knott David M Jr grew its stake in Beyond Air by 21.3% in the 1st quarter. Knott David M Jr now owns 121,300 shares of the company’s stock worth $819,000 after acquiring an additional 21,300 shares during the period. Institutional investors and hedge funds own 30.60% of the company’s stock.

Beyond Air Trading Down 1.3 %

Beyond Air stock traded down $0.04 during midday trading on Friday, reaching $3.15. The stock had a trading volume of 117,481 shares, compared to its average volume of 443,446. The stock’s 50-day simple moving average is $3.44 and its 200 day simple moving average is $5.02. Beyond Air, Inc. has a twelve month low of $2.55 and a twelve month high of $9.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.16 and a current ratio of 5.27. The stock has a market capitalization of $99.89 million, a PE ratio of -1.62 and a beta of -0.37.

Beyond Air (NASDAQ:XAIR) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.01. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. Analysts expect that Beyond Air, Inc. will post -1.88 EPS for the current year.

Insider Buying and Selling at Beyond Air

In other Beyond Air news, Director Robert Carey acquired 13,614 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $2.64 per share, with a total value of $35,940.96. Following the completion of the transaction, the director now directly owns 900,110 shares of the company’s stock, valued at $2,376,290.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 343,664 shares of company stock valued at $938,129 over the last ninety days. Corporate insiders own 15.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler assumed coverage on Beyond Air in a research note on Friday, July 28th. They set an “overweight” rating and a $10.00 price target on the stock. BTIG Research initiated coverage on Beyond Air in a report on Thursday, June 15th. They issued a “buy” rating and a $15.00 price target for the company. Oppenheimer dropped their price objective on shares of Beyond Air from $16.00 to $10.00 in a research note on Friday, June 23rd. Finally, Truist Financial decreased their target price on shares of Beyond Air from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 21st.

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.