Pulmatrix, Inc. (NASDAQ:PULM) Sees Large Increase in Short Interest

Pulmatrix, Inc. (NASDAQ:PULM) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 55,391 shares, a growth of 174.2% from the August 31st total of 20,198 shares. Based on an average daily trading volume, of 43,645 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.5% of the company’s shares are short sold.

Institutional Trading of Pulmatrix

An institutional investor recently bought a new stake in Pulmatrix stock. BlackRock Inc. purchased a new position in shares of Pulmatrix, Inc. (NASDAQ:PULM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 54,899 shares of the biotechnology company’s stock, valued at approximately $93,000. BlackRock Inc. owned about 1.50% of Pulmatrix as of its most recent filing with the SEC. Institutional investors and hedge funds own 11.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Pulmatrix from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Pulmatrix Stock Down 0.7%

Shares of NASDAQ:PULM opened at $1.60 on Tuesday. The firm has a market cap of $5.84 million, a P/E ratio of -1.45 and a beta of 1.90. Pulmatrix has a 12-month low of $1.16 and a 12-month high of $5.50. The business has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.53.

Pulmatrix (NASDAQ:PULM) last released its quarterly earnings results on Thursday, August 13th. The biotechnology company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($2.00) by $1.71.

Pulmatrix Company Profile

Pulmatrix, Inc is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for respiratory and other serious diseases. The company’s approach is designed to deliver medicines directly to the lungs, potentially improving local drug exposure while limiting systemic side effects.

Pulmatrix’s technology platform, iSPERSE, is an engineered dry-powder formulation designed to enable the inhalation of a broad range of drug compounds. The platform has been used in the development of products including PUR1900, an inhaled formulation of itraconazole being investigated for respiratory fungal infections such as allergic bronchopulmonary aspergillosis, and other investigational therapies targeting pulmonary and related conditions.

Based in Lexington, Massachusetts, Pulmatrix has historically focused on advancing inhaled treatments through preclinical and clinical development, while pursuing potential partnerships and commercialization opportunities.