HC Wainwright Trims Pulmatrix (NASDAQ:PULM) Target Price to $3.00

Pulmatrix (NASDAQ:PULM) had its target price decreased by HC Wainwright to $3.00 in a research note issued on Friday, March 16th. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 465.93% from the company’s previous close.

Separately, ValuEngine raised Pulmatrix from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd.

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Pulmatrix stock traded up $0.02 during trading hours on Friday, hitting $0.53. 1,841,968 shares of the stock traded hands, compared to its average volume of 691,774. The stock has a market cap of $20.72, a price-to-earnings ratio of -0.57 and a beta of 2.72. Pulmatrix has a one year low of $0.45 and a one year high of $3.42.

An institutional investor recently raised its position in Pulmatrix stock. Vanguard Group Inc. lifted its stake in Pulmatrix (NASDAQ:PULM) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,758 shares of the biotechnology company’s stock after purchasing an additional 7,351 shares during the quarter. Vanguard Group Inc. owned about 0.52% of Pulmatrix worth $240,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 20.11% of the company’s stock.

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Pulmatrix Company Profile

Pulmatrix, Inc, a clinical stage biopharmaceutical company, engages in developing inhaled therapies to address serious pulmonary diseases using its inhaled Small Particles Easily Respirable and Emitted (iSPERSE) technology. The company's proprietary product pipeline focuses on advancing treatments for rare diseases, including PUR1900, an inhaled anti-fungal for patients with cystic fibrosis, as well as PUR1500, an inhaled product for the treatment of idiopathic pulmonary fibrosis (IPF).

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