Pulmatrix (NASDAQ:PULM) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Pulmatrix (NASDAQ:PULM) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Pulmatrix, Inc. is a biopharmaceutical company which is engaged in developing inhaled therapies for serious pulmonary disease. The Company’s proprietary product pipeline includes PUR1900, an inhaled anti-fungal for cystic fibrosis, PUR0200, a branded generic for chronic obstructive pulmonary disease which are in different clinical stage. Its technology platform consists of iSPERSE. Pulmatrix, Inc., formerly known as Ruthigen, Inc., is based in Lexington, MA. “

Pulmatrix stock opened at $0.76 on Wednesday. Pulmatrix has a 12 month low of $0.71 and a 12 month high of $3.04. The firm has a market cap of $42.64 million, a PE ratio of -1.46 and a beta of 1.30. The stock’s 50 day simple moving average is $0.79 and its two-hundred day simple moving average is $0.92.

Pulmatrix (NASDAQ:PULM) last announced its earnings results on Tuesday, August 10th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. Pulmatrix had a negative return on equity of 54.76% and a negative net margin of 213.74%. The firm had revenue of $2.25 million for the quarter, compared to analyst estimates of $1.53 million. As a group, sell-side analysts forecast that Pulmatrix will post -0.26 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. UBS Group AG purchased a new position in shares of Pulmatrix during the 1st quarter valued at approximately $44,000. Citadel Advisors LLC purchased a new position in shares of Pulmatrix during the 1st quarter valued at approximately $47,000. Millennium Management LLC purchased a new position in shares of Pulmatrix during the 1st quarter valued at approximately $125,000. Northern Trust Corp lifted its position in shares of Pulmatrix by 108.6% during the 1st quarter. Northern Trust Corp now owns 107,007 shares of the biotechnology company’s stock valued at $142,000 after buying an additional 55,698 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Pulmatrix by 309.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 140,253 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 106,027 shares in the last quarter. Hedge funds and other institutional investors own 14.13% of the company’s stock.

About Pulmatrix

Pulmatrix, Inc is a clinical stage biotechnology company, which engages in the discovery and development of novel inhaled therapeutic products for respiratory and other diseases. The firm 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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