Pulmatrix, Inc. (NASDAQ:PULM) Sees Large Growth in Short Interest

Pulmatrix, Inc. (NASDAQ:PULM) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 55,391 shares, a growth of 174.2% from the August 31st total of 20,198 shares. Based on an average daily volume of 43,645 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Pulmatrix

An institutional investor recently bought a new position in Pulmatrix stock. BlackRock Inc. bought a new stake in shares of Pulmatrix, Inc. (NASDAQ:PULM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,899 shares of the biotechnology company’s stock, valued at approximately $93,000. BlackRock Inc. owned approximately 1.50% of Pulmatrix at the end of the most recent reporting period. 11.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Pulmatrix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Pulmatrix Trading Down 0.7%

Shares of NASDAQ PULM traded down $0.01 during trading on Monday, reaching $1.60. 40,144 shares of the company traded hands, compared to its average volume of 41,904. The stock has a market cap of $5.84 million, a P/E ratio of -1.45 and a beta of 1.90. The firm’s fifty day simple moving average is $1.57 and its 200 day simple moving average is $1.53. Pulmatrix has a 12-month low of $1.16 and a 12-month high of $5.50.

Pulmatrix (NASDAQ:PULM) last posted its earnings results on Thursday, August 13th. The biotechnology company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($2.00) by $1.71.

Pulmatrix Company Profile

Pulmatrix, Inc is a clinical-stage biopharmaceutical company focused on developing inhaled therapies for respiratory and other serious diseases. The company’s approach is designed to deliver medicines directly to the lungs, potentially improving local drug exposure while limiting systemic side effects.

Pulmatrix’s technology platform, iSPERSE, is an engineered dry-powder formulation designed to enable the inhalation of a broad range of drug compounds. The platform has been used in the development of products including PUR1900, an inhaled formulation of itraconazole being investigated for respiratory fungal infections such as allergic bronchopulmonary aspergillosis, and other investigational therapies targeting pulmonary and related conditions.

Based in Lexington, Massachusetts, Pulmatrix has historically focused on advancing inhaled treatments through preclinical and clinical development, while pursuing potential partnerships and commercialization opportunities.