StockNews.com Initiates Coverage on Pulmatrix (NASDAQ:PULM)

StockNews.com assumed coverage on shares of Pulmatrix (NASDAQ:PULMGet Rating) in a report issued on Wednesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Pulmatrix in a research report on Tuesday, February 7th.

Pulmatrix Stock Down 6.9 %

Shares of NASDAQ PULM opened at $2.67 on Wednesday. The business’s 50 day moving average price is $2.88 and its 200 day moving average price is $3.43. The firm has a market cap of $9.75 million, a P/E ratio of -0.52 and a beta of 0.76. Pulmatrix has a 52 week low of $2.63 and a 52 week high of $7.50.

Pulmatrix (NASDAQ:PULMGet Rating) last announced its earnings results on Thursday, March 30th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.44) by $0.30. Pulmatrix had a negative return on equity of 55.65% and a negative net margin of 285.66%. The firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $1.87 million. As a group, research analysts expect that Pulmatrix will post -4.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PULM. Citadel Advisors LLC acquired a new stake in Pulmatrix in the 2nd quarter worth about $141,000. Mariner LLC bought a new stake in shares of Pulmatrix in the 4th quarter valued at approximately $97,000. Susquehanna International Group LLP acquired a new position in Pulmatrix during the 1st quarter valued at approximately $73,000. Finally, Renaissance Technologies LLC boosted its position in Pulmatrix by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 121,920 shares of the biotechnology company’s stock valued at $560,000 after purchasing an additional 8,300 shares during the period. Hedge funds and other institutional investors own 15.69% of the company’s stock.

About Pulmatrix

(Get Rating)

Pulmatrix, Inc is a clinical stage biotechnology company, which engages in the development and discovery of novel inhaled therapeutics products. The company was founded by David Alan Edwards, Mark J. Gabrielson, Alexander M. Klibanov, and Robert S. Langer, Jr. on June 15, 2015 and is headquartered in Lexington, MA.

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