Insider Buying: Beyond Air, Inc. (NASDAQ:XAIR) CEO Acquires $738,313.00 in Stock

Beyond Air, Inc. (NASDAQ:XAIR) CEO Steven A. Lisi purchased 1,476,626 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $0.50 per share, for a total transaction of $738,313.00. Following the purchase, the chief executive officer now owns 3,249,411 shares in the company, valued at $1,624,705.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Beyond Air Stock Performance

NASDAQ:XAIR opened at $0.38 on Friday. Beyond Air, Inc. has a 1 year low of $0.30 and a 1 year high of $2.61. The firm’s fifty day simple moving average is $0.43 and its 200 day simple moving average is $0.90. The company has a current ratio of 2.63, a quick ratio of 2.42 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $17.64 million, a PE ratio of -0.21 and a beta of -0.11.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.12. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.72 million. Beyond Air had a negative net margin of 3,272.46% and a negative return on equity of 240.15%. During the same period last year, the business posted ($0.45) EPS. On average, sell-side analysts anticipate that Beyond Air, Inc. will post -1.03 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on XAIR shares. BTIG Research lowered shares of Beyond Air from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 25th. Roth Capital upgraded shares of Beyond Air to a “strong-buy” rating in a research note on Friday, August 16th. Roth Mkm reiterated a “buy” rating and issued a $2.00 target price on shares of Beyond Air in a research note on Friday, August 16th. Finally, Piper Sandler lowered their target price on shares of Beyond Air from $3.50 to $1.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $3.67.

Institutional Trading of Beyond Air

Several hedge funds and other institutional investors have recently bought and sold shares of XAIR. Gendell Jeffrey L grew its position in Beyond Air by 2.8% in the 4th quarter. Gendell Jeffrey L now owns 1,120,297 shares of the company’s stock worth $2,196,000 after purchasing an additional 30,000 shares during the last quarter. Vanguard Group Inc. grew its position in Beyond Air by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock worth $2,435,000 after purchasing an additional 66,224 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Beyond Air in the 2nd quarter worth $47,000. 31.50% of the stock is currently owned by institutional investors and hedge funds.

Beyond Air Company 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.