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Tag: XAIR

  • Why Beyond Air Inc. (XAIR) stock went up in the after-hours on Monday?

    Why Beyond Air Inc. (XAIR) stock went up in the after-hours on Monday?

    Beyond Air Inc. (XAIR) stock started the Monday, June 21, 2021, trading by losing 0.58% in the normal session and closed at %5.10 per share. Later in the after-hours session, XAIR shares gained 14.71% and closed at $5.85 per share. XAIR shares have fallen 31.82% over the last 12 months, and they have moved down 6.25% in the past week. Over the past three months, the stock has lost 9.73%, while over the past six months, it has shed 1.54%.

    Let’s have a look at its recent developments.

    Recent financial results announcement

    On June 10, 2021, Beyond Air, Inc released its financial results for its fourth quarter and fiscal year ended March 31, 2021.

    Financial highlights for the year ended March 31, 2021

    • Beyond Air earned a revenue of $873 thousand for the fiscal year ended March 31, 2021, as compared to $1.4 million for the fiscal year ended March 31, 2020.
    • Research and development expenses were $12.6 million for the fiscal year ended March 31, 2021, compared to $10.6 million for the fiscal year ended March 31, 2020.
    • General and administrative expenses were $10.5 million for the fiscal year ended March 31, 2021, compared to $8.9 million for the fiscal year ended March 31, 2020.
    • The company suffered a net loss of 22.9 million, or $1.27 per share for the fiscal year ended March 31, 2021, compared to a net loss of $20.5 million, or $1.78 per share for the fiscal year ended March 31, 2020.
    • The Company had cash, cash equivalents, and restricted cash of $35.3 million on March 31, 2021.

    Settlement Agreement with Circassia

    On May 26, 2021, Beyond Air, Inc signed an agreement with former LungFit PH commercial licensee, Circassia Group plc. Under the terms of the agreement, Beyond Air now holds full global rights to LungFit PH, and Beyond Air retains the United States and China commercialization rights to LungFit PH in exchange for returning upfront and milestone payments received by the Company in 2019, along with capped future royalty payments.

    New Appointments

    On May 20, 2021, Beyond Air, Inc appointed Rebecca Van Doren as Head of Sales and Kori-Ann Taylor as Head of Marketing to strengthen its commercial leadership team.

    Ms. Van Doren and Ms. Taylor each bring decades of healthcare industry leadership experience and in-depth knowledge of the nitric oxide market.

    Earlier on May 03, 2021, Beyond Air, Inc appointed Peter Senior to Director of Business Development.

    Presentation of LungFit® PRO Programs Data at ATS 2021

    On May 13, 2021, Beyond Air, Inc presented the data at the American Thoracic Society (ATS) International Conference 2021, which held virtually from May 14 – May 19. The data from both LungFit® PRO programs, acute viral pneumonia (including COVID-19) and bronchiolitis, show a favorable safety profile and encouraging efficacy trends using high concentration inhaled NO for the treatment of acute viral lung infections in hospitalized patients.

    Conclusion

    As of this writing, there is no such news which could be the reason behind its rally in the after-hours on Monday. It is hard to predict for us how XAIR stock will perform in the coming days.

  • Early Morning Vibes: 4 Stocks We Like for Tuesday Trading

    Early Morning Vibes: 4 Stocks We Like for Tuesday Trading

    Major US stock indices fell 1.3-1.5% on the first day of trading in 2021.

    The broad market S&P 500 index fell 1.48% to 3700.65 points, the industrial Dow Jones Industrial Average fell 1.25% to 30223.89 points, and the technological NASDAQ dropped 1.47% 12698.45 points.
     

    Despite the general optimistic sentiment of investors regarding the recovery of the global economy after the coronavirus pandemic, the indices declined.

    At the start of the new year, investors focused on the same issue that has dominated the markets for much of 2020: the coronavirus pandemic. Many expect economic activity to accelerate later this year as communities are vaccinated, and organizations reopened. At the same time, there is an understanding that the path to economic recovery will be long and uneven.

    Recent news on the coronavirus situation paints a bleak picture. In the United States, the number of hospitalizations on Sunday reached a record high. In several countries in Europe, governments are extending quarantine restrictions designed to slow the spread of infection.

    The difficulty in dealing with the pandemic means that many companies will be vulnerable to financial risks in the short term.

    The experts noted growing nervousness over the results of the second round of elections to the U.S. Senate in Georgia. The outcome of the vote will determine whether the Republicans will retain control of the Senate. According to investors in prediction markets, the likelihood of a GOP victory has diminished in the past few days, potentially signaling a tense battle for Senate seats.

    Corporate Highlights

    Coca-Cola shares lost 3.8%. RBC Capital Markets has downgraded their rating from “above sector” to “par with the sector.” The bank’s analysts believe that the pandemic will continue to restrict public events and consumer access to restaurants, negatively affecting demand for Coca-Cola products.

    Airline stocks, which were also seriously affected by the coronavirus, also declined on Monday. In particular, American Airlines shares fell 4.1%, while Delta Air Lines shares fell 3.7%.

    Hotel chain shares were also down, with Hilton Worldwide Holdings down 3.4%, while Marriott International shed 5.4%.

    Tesla, meanwhile, gained 3.4%. The electric vehicle maker said it delivered a record 499,550 vehicles last year, just slightly below its target of 500,000.

    Amid a massive sell-off in shares, gold prices jumped 2.7% to $ 1,944.70 per troy ounce, the most significant percentage gain since April. Precious metal quotes usually receive support when market volatility increases.

    An additional source of joy in the market was the latest data on the manufacturing sector’s state. According to surveys of purchasing managers, factories in Asia and Europe increased their output at the end of the year. In December, there was a substantial rise in activity.

    Today Top Movers

    ‎Jaguar Health Inc (JAGX) share price ascended 30.90% to $2.33 during early morning ‎trading session on Tuesday.‎ ‎

    Zosano Pharma Corp (ZSAN), a Biotechnology company, increased about 78.60% ‎at ‎‎$1.04 in pre-market trading Tuesday after declaring that the company requested a Type A meeting with the U.S. Food and Drug Administration (FDA) to review resubmission plans for Qtrypta new drug application. ‎

    Naked Brand Group Ltd (NAKD) stock surged 14.83% at $0.25 in the pre-market trading today.

    Broadway Fin Cp (BYFC) jumped over 46.88% at $2.82 in pre-market ‎trading on Tuesday after the company and CFBanc Corporation revealed receipt of regulatory approvals for the merger.

    Top Upgrades & Downgrades


    Needham turned bullish on Merit Medical Systems Inc. (MMSI), upgrading the stock to “Buy” and assigning a $65.0 price target, representing potential upside of 18.69% from Monday’s close.
     

    DocuSign Inc. (DOCU) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $300.
     

    Cadence Design Systems Inc. (CDNS) received an upgrade from analysts at KeyBanc, who also set their one-year price target on the stock to $155.0. They changed their rating on CDNS to Overweight from Sector Weight in a recently issued research note.
     

    Earlier Sunday Piper Sandler reduced its rating on Fortinet Inc. (FTNT) stock to Neutral from Overweight.
     

    Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Rapid7 Inc. (RPD) has been changed to Neutral from Overweight and the new price target is set at $95.
     

    Analysts at Piper Sandler downgraded Okta Inc. (OKTA)’s stock to Neutral from Overweight on Tuesday.

    Latest Insider Activity

    ReneSola Ltd (SOL) CFO SHAH CAPITAL MANAGEMENT announced the sale of shares taking place on Dec 31 at $11.90 for some 26,000 shares. The total came to more than $0.31 million.
     

    ACM Research Inc. (ACMR) Wang Jian sold on Dec 30 a total 84,386 shares at $78.00 on average. The insider’s sale generated proceeds of almost $2.53 million.
     

    Hall of Fame Resort & Entertainment Company (HOFV) Director Lichter Stuart declared the purchase of shares taking place on Dec 29 at $1.40 for some 10,813,774 shares. The transaction amount was around $15.14 million.
     

    Beyond Air Inc. (XAIR) CEO, Chairman Lisi Steven A. bought on Dec 31 a total 929 shares at $5.28 on average. The purchase cost the insider an estimated $203,280.

    Important Earnings

    Top US earnings releases scheduled for today include Cal-Maine Foods Inc. (NASDAQ:CALM). It will announce its Nov 2020 financial results. The company is expected to report earnings of -$0.08 per share from revenues of $333.49M in the three-month period.