Beyond Air $XAIR Stock Up After Insider Buy

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XAIR stock rose 14% on December 14, 2021, after a large insider buy was reported on December 13, 2021.

Beyond Air CEO buys $341K in common stock

On December 10, 2021, in a regulatory filing, Beyond Air disclosed that its CEO Steven Lisi bought 40K shares of common stock for $341K boosting his stake by about 4%.

Beyond Air Provides Regulatory Update for LungFit® PH

On December 9, 2021, Beyond Air, Inc. (NASDAQ: XAIR), a clinical-stage medical device and biopharmaceutical company focused on developing inhaled nitric oxide (NO) for the treatment of patients with respiratory conditions, including serious lung infections and pulmonary hypertension, and, through its affiliate Beyond Cancer, ultra-high concentration nitric oxide (UNO) for the treatment of solid tumors, announced an update to the expectations for U.S. Food and Drug Administration (FDA) approval of LungFit® PH for the treatment of persistent pulmonary hypertension of the newborn, or PPHN.

Based upon our ongoing communications with the FDA, the Company no longer believes that the U.S. commercial launch of LungFit® PH will take place prior to December 31, 2021. Beyond Air remains on track to receive CE Mark for LungFit® PH in Europe in the first half of calendar year 2022.

“The Beyond Air team continues to work towards our goal of bringing LungFit® PH, the groundbreaking nitric oxide generator and delivery system, to NICUs across the United States and the world as soon as possible,” commented Steve Lisi, Chairman and CEO of Beyond Air. “We commend the FDA for their continued commitment to provide us with a comprehensive review of our application. We shall continue to collaboratively work with the FDA to approve LungFit® PH.”

Beyond Air, Inc. is a clinical-stage medical device and biopharmaceutical company developing a revolutionary NO Generator and Delivery System, LungFit®, that uses NO generated from ambient air to deliver precise amounts of NO to the lungs for the potential treatment of a variety of pulmonary diseases. The LungFit® can generate up to 400 ppm of NO, for delivery either continuously or for a fixed amount of time and has the ability to either titrate dose on demand or maintain a constant dose. The Company is currently applying its therapeutic expertise to develop treatments for pulmonary hypertension in various settings, in addition to treatments for respiratory tract infections that are not effectively addressed with current standards of care. Beyond Air is currently advancing its revolutionary LungFit® for clinical trials for the treatment of severe lung infections such as acute viral pneumonia (including COVID-19) and nontuberculous mycobacteria (NTM). Additionally, Beyond Air, through its affiliate, Beyond Cancer, is using ultra-high concentrations of NO with a proprietary delivery system to target certain solid tumors in the pre-clinical setting.

Beyond Air price target raised to $15 from $11 at Roth Capital

On November 15, 2021, Roth Capital analyst Scott Henry raised the firm’s price target on Beyond Air to $15 from $11 and keeps a Buy rating on the shares post the fiscal Q2 results, which he says were “fundamentally as expected.” The analyst continues to believe that the utility of nitric oxide therapy is underappreciated by investors and that Beyond Air is a leader in this technology. He increased the price target to reflect value for the Beyond Oncology spinoff.

Beyond Air price target raised to $13 from $9 at Oppenheimer

On November 12, 2021, Oppenheimer analyst Suraj Kalia raised the firm’s price target on Beyond Air to $13 from $9 and keeps an Outperform rating on the shares. Kalia looks forward to the coming PPHN launch, and remains intrigued by the potential for NO in COVID-19 patients and new Beyond Cancer separation, the analyst tells investors in a research note.

Beyond Air price target raised to $16 from $12 at Truist

On November 12, 2021, Truist analyst Gregory Fraser raised the firm’s price target on Beyond Air to $16 from $12 and keeps a Buy rating on the shares. The analyst notes that while the company’s Q2 earnings missed consensus due to a litigation-related contingency charge, the “important” update is that the FDA review of Beyond Air’s LungFit PH has been progressing well, and the management continues to anticipate a launch in December of this quarter.

On November 11, 2021, Steve Lisi, CEO of Beyond Air commented, “This has been an exciting quarter for Beyond Air, as the team continues to deliver both operationally and strategically. On the strategic front, the launch of Beyond Cancer under the new leadership of CEO Selena Chaisson, M.D. is a special achievement. The separation of the UNO franchise to an independently managed affiliate was made possible through the support of investors in a $23.9M ongoing private financing. We believe that the spin-off will accelerate UNO’s path to the clinic and create long-term value for shareholders. Beyond Cancer will leverage our NO expertise, IP portfolio, preclinical oncology team, regulatory progress, and initially use existing Company infrastructure. The separation enables Beyond Air to focus on its core business of advancing its LungFit platform for the treatment of respiratory diseases.”

XAIR Stock Technical Analysis

Xair Stock

XAIR is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 85% of 209 stocks in the same industry. The MACD is bearish but appears to be rounding up but the short term trend is negative and the long term trend is neutral. XAIR is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so XAIR is lagging the market. There is a support zone ranging from 8.43 to 8.52. This zone is formed by a combination of multiple trend lines in multiple time frames. XAIR has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when XAIR stock is a good entry.

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