Truist Financial Trims Beyond Air (NASDAQ:XAIR) Target Price to $8.00

Beyond Air (NASDAQ:XAIR) had its price objective decreased by equities researchers at Truist Financial from $10.00 to $8.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Beyond Air Stock Up 4.6 %

Beyond Air stock opened at $1.13 on Tuesday. Beyond Air has a fifty-two week low of $1.06 and a fifty-two week high of $6.36. The stock has a market cap of $40.73 million, a PE ratio of -0.53 and a beta of -0.18. The firm’s 50-day simple moving average is $1.57 and its 200 day simple moving average is $1.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.26 and a current ratio of 3.39.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings results on Monday, February 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.11. The business had revenue of $0.39 million during the quarter, compared to the consensus estimate of $0.49 million. During the same period last year, the firm earned ($0.43) EPS. Research analysts predict that Beyond Air will post -1.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Beyond Air

Large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its position in shares of Beyond Air by 1.9% in the 3rd quarter. Deutsche Bank AG now owns 407,565 shares of the company’s stock worth $941,000 after purchasing an additional 7,565 shares during the period. Scotia Capital Inc. purchased a new stake in shares of Beyond Air in the 3rd quarter worth about $31,000. Bank of New York Mellon Corp lifted its position in shares of Beyond Air by 9.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 76,796 shares of the company’s stock worth $177,000 after purchasing an additional 6,371 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Beyond Air in the 4th quarter worth about $70,000. Finally, Keel Point LLC purchased a new stake in shares of Beyond Air in the 4th quarter worth about $30,000. Institutional investors own 31.50% of the company’s stock.

About Beyond Air

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.