Pulmatrix (NASDAQ:PULM) Issues Quarterly Earnings Results

Pulmatrix (NASDAQ:PULM) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.25) earnings per share for the quarter, FiscalAI reports.

Pulmatrix Stock Down 6.9%

PULM stock traded down $0.22 during midday trading on Thursday, reaching $2.99. 38,961 shares of the company’s stock traded hands, compared to its average volume of 14,990. Pulmatrix has a 52-week low of $2.15 and a 52-week high of $9.37. The stock’s 50-day moving average is $2.53 and its 200 day moving average is $3.96.

Hedge Funds Weigh In On Pulmatrix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of Pulmatrix by 15.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 60,565 shares of the biotechnology company’s stock worth $418,000 after acquiring an additional 8,208 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Pulmatrix in the 3rd quarter worth $52,000. Finally, DRW Securities LLC purchased a new position in Pulmatrix during the 4th quarter worth $46,000. 11.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pulmatrix in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Pulmatrix

Pulmatrix, Inc is a clinical-stage biopharmaceutical company dedicated to developing inhaled therapies for patients suffering from respiratory diseases. The company’s proprietary iSPERSE® dry-powder formulation platform produces fine microparticles optimized for deep-lung delivery, rapid absorption and consistent dosing, addressing challenges often encountered with traditional inhalation approaches.

Among Pulmatrix’s lead programs is PUR1900, an inhaled therapy designed to treat pulmonary fungal infections such as allergic bronchopulmonary aspergillosis (ABPA).