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

StockNews.com started coverage on shares of Pulmatrix (NASDAQ:PULM) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Pulmatrix Stock Performance

PULM opened at $1.95 on Tuesday. The company’s 50 day simple moving average is $1.84 and its 200 day simple moving average is $1.88. Pulmatrix has a 1 year low of $1.55 and a 1 year high of $3.14. The stock has a market capitalization of $7.12 million, a PE ratio of -0.51 and a beta of 0.92.

Pulmatrix (NASDAQ:PULM) last posted its quarterly earnings results on Thursday, March 28th. The biotechnology company reported ($0.57) EPS for the quarter. Pulmatrix had a negative net margin of 193.49% and a negative return on equity of 63.94%. The business had revenue of $2.20 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Pulmatrix by 62.9% in the fourth quarter. Vanguard Group Inc. now owns 35,082 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 13,548 shares during the period. Susquehanna International Group LLP purchased a new position in Pulmatrix in the first quarter valued at approximately $73,000. Mariner LLC purchased a new position in Pulmatrix in the fourth quarter valued at approximately $97,000. Citadel Advisors LLC purchased a new position in Pulmatrix in the second quarter valued at approximately $141,000. Finally, Renaissance Technologies LLC raised its holdings in Pulmatrix by 7.3% in the second quarter. Renaissance Technologies LLC now owns 121,920 shares of the biotechnology company’s stock valued at $560,000 after buying an additional 8,300 shares during the period. Hedge funds and other institutional investors own 11.84% of the company’s stock.

About Pulmatrix

Pulmatrix, Inc, a clinical stage biotechnology company, discovers and develops inhaled therapies to prevent and treat respiratory and other diseases with unmet medical needs in the United States. The company focuses on developing products based on its inhaled small particles easily respirable and emitted (iSPERSE) technology, which enables delivery of small or large molecule drugs to the lungs by inhalation for local or systemic applications.