Insider Buying: Beyond Air (NASDAQ:XAIR) CEO Purchases $199,998.72 in Stock

Beyond Air, Inc. (NASDAQ:XAIR) CEO Robert Scott Goodman bought 34,722 shares of the stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average cost of $5.76 per share, for a total transaction of $199,998.72. Following the completion of the purchase, the chief executive officer owned 34,822 shares in the company, valued at approximately $200,574.72. This represents a 34,722.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Beyond Air Price Performance

Shares of Beyond Air stock opened at $5.28 on Monday. The company has a quick ratio of 3.59, a current ratio of 3.80 and a debt-to-equity ratio of 3.48. Beyond Air, Inc. has a twelve month low of $5.02 and a twelve month high of $95.60. The business has a 50-day moving average price of $7.69 and a 200 day moving average price of $14.19. The firm has a market cap of $3.81 million, a PE ratio of -0.06 and a beta of 0.22.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its holdings in Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after buying an additional 34,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in Beyond Air during the 3rd quarter worth approximately $48,000. Geode Capital Management LLC raised its holdings 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 during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Beyond Air during the third quarter valued at approximately $1,753,000. Institutional investors and hedge funds own 31.50% of the company’s stock.

Beyond Air Company Profile

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.