Zacks Investment Research upgraded shares of Pulmatrix (NASDAQ:PULM) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $0.50 price objective on the biotechnology company’s stock.
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. “
PULM stock opened at $0.40 on Wednesday. Pulmatrix has a twelve month low of $0.39 and a twelve month high of $3.04. The firm’s fifty day simple moving average is $0.58 and its two-hundred day simple moving average is $0.75.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Pulmatrix by 68.4% in the second quarter. Geode Capital Management LLC now owns 487,999 shares of the biotechnology company’s stock worth $507,000 after purchasing an additional 198,146 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pulmatrix by 19.0% in the second quarter. Renaissance Technologies LLC now owns 2,848,391 shares of the biotechnology company’s stock worth $2,962,000 after purchasing an additional 455,233 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Pulmatrix by 17.4% in the second quarter. Vanguard Group Inc. now owns 2,047,588 shares of the biotechnology company’s stock worth $2,130,000 after purchasing an additional 303,286 shares during the last quarter. Morgan Stanley grew its holdings in shares of Pulmatrix by 1,563.9% in the second quarter. Morgan Stanley now owns 265,448 shares of the biotechnology company’s stock worth $276,000 after purchasing an additional 249,495 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Pulmatrix in the third quarter worth about $34,000. Hedge funds and other institutional investors own 13.65% of the company’s stock.
Pulmatrix Company Profile
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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