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Robert Carey, a director at Beyond Air, Inc. (NASDAQ:XAIR), recently acquired a significant amount of the company’s common stock, according to a filing with the Securities and Exchange Commission. On March 14, Carey purchased a total of 1,000,000 shares. The transactions were made at prices ranging from $0.25 to $0.255 per share, amounting to a total investment of $250,050. The timing appears strategic, as InvestingPro data shows the stock has gained nearly 11% in the past week, though it remains significantly below its 52-week high of $1.78.
Following these transactions, Carey holds 4,076,864 shares directly. Additionally, he indirectly owns 1,476,626 shares through The Carey 2020 Acelyrin Trust. These acquisitions reflect Carey’s growing stake in the medical instruments company, which specializes in developing innovative solutions for respiratory conditions. According to InvestingPro, Beyond Air shows promising growth potential with analysts forecasting significant revenue growth this year. The company maintains a healthy liquidity position with a current ratio of 3.56, though investors should note it’s currently operating at pre-profit stage. For detailed analysis and 12 additional exclusive ProTips, visit InvestingPro’s comprehensive research report.
In other recent news, Beyond Air reported its third-quarter fiscal year 2025 earnings, showcasing a 175% year-over-year revenue increase to $1.1 million. This growth was attributed to the commercial success of its LungFit PH system and new hospital contracts. The company’s net loss improved to $0.15 per share from $0.50 per share the previous year. Beyond Air also announced a potential $35 million at-the-market equity offering, with BTIG, LLC acting as the sales agent. Additionally, the company expanded its global footprint with new distribution agreements in France, Turkey, Romania, and Morocco for its LungFit PH system.
The LungFit PH device, which generates nitric oxide from room air, has been approved for use in several countries, including the United States and the European Union. Beyond Air’s international expansion continues with agreements in the Middle East and regulatory milestones achieved with CE Mark and Australian market authorization. Despite these positive developments, BTIG maintained a Neutral rating for Beyond Air, reflecting a cautious outlook on the company’s ability to consistently execute its commercial strategy. The company concluded the third fiscal quarter with $10.9 million in cash and equivalents, projecting sufficient funds to support operations through spring 2026.
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