ValuEngine upgraded shares of Pulmatrix (NASDAQ:PULM) from a hold rating to a buy rating in a research note published on Thursday.
Shares of NASDAQ PULM traded up $0.01 during mid-day trading on Thursday, hitting $0.42. The company had a trading volume of 3,342 shares, compared to its average volume of 282,138. Pulmatrix has a 1-year low of $0.28 and a 1-year high of $2.17. The stock has a market cap of $19.45 million, a P/E ratio of -0.47 and a beta of 2.28.
Pulmatrix (NASDAQ:PULM) last posted its earnings results on Friday, August 3rd. The biotechnology company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.04. As a group, sell-side analysts expect that Pulmatrix will post -0.69 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Pulmatrix stock. Polaris Venture Management Co. V L.L.C. increased its stake in shares of Pulmatrix Inc (NASDAQ:PULM) by 28.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,594,381 shares of the biotechnology company’s stock after purchasing an additional 797,974 shares during the period. Pulmatrix accounts for about 0.9% of Polaris Venture Management Co. V L.L.C.’s holdings, making the stock its 11th biggest position. Polaris Venture Management Co. V L.L.C. owned about 7.66% of Pulmatrix worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 12.56% of the company’s stock.
Pulmatrix, Inc is a clinical stage biotechnology company, which engages in the discovery and development of novel inhaled therapeutic products. The company focuses on the prevention and treatment of respiratory diseases and infections. It offers products based on its proprietary dry powder delivery technology, iSPERSE, which enables delivery of small or large molecule drugs to the lungs by inhalation for local or systemic applications.
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