Insider Buying: Beyond Air, Inc. (NASDAQ:XAIR) Director Buys 1,000,000 Shares of Stock

Beyond Air, Inc. (NASDAQ:XAIR) Director Robert Carey purchased 1,000,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $0.25 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the director now directly owns 4,076,864 shares of the company’s stock, valued at approximately $1,019,216. This trade represents a 32.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Beyond Air Price Performance

Shares of XAIR stock opened at $0.28 on Thursday. Beyond Air, Inc. has a 1 year low of $0.24 and a 1 year high of $1.78. The firm has a fifty day moving average price of $0.35 and a 200-day moving average price of $0.40. The company has a market cap of $19.02 million, a price-to-earnings ratio of -0.26 and a beta of 0.16.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.09. Beyond Air had a negative return on equity of 226.01% and a negative net margin of 1,730.00%. During the same period in the previous year, the business earned ($0.50) earnings per share. Equities research analysts expect that Beyond Air, Inc. will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Beyond Air

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new position in shares of Beyond Air in the fourth quarter worth approximately $2,560,000. Balyasny Asset Management L.P. purchased a new position in shares of Beyond Air during the 4th quarter valued at $1,195,000. Soros Fund Management LLC bought a new position in Beyond Air in the 3rd quarter worth $573,000. Geode Capital Management LLC increased its stake in Beyond Air by 81.0% in the 4th quarter. Geode Capital Management LLC now owns 562,713 shares of the company’s stock worth $202,000 after buying an additional 251,823 shares in the last quarter. Finally, Baldwin Wealth Partners LLC MA raised its holdings in Beyond Air by 721.3% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 308,000 shares of the company’s stock valued at $110,000 after acquiring an additional 270,500 shares during the period. 31.50% of the stock is owned by hedge funds and other institutional investors.

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.