Rhumbline Advisers Buys 2,488 Shares of Pulmonx Co. (NASDAQ:LUNG)

Rhumbline Advisers grew its stake in Pulmonx Co. (NASDAQ:LUNG) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,503 shares of the company’s stock after purchasing an additional 2,488 shares during the period. Rhumbline Advisers owned approximately 0.14% of Pulmonx worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. 272 Capital LP purchased a new stake in Pulmonx during the 3rd quarter valued at $25,000. R Squared Ltd purchased a new stake in shares of Pulmonx in the fourth quarter valued at $46,000. SG Americas Securities LLC lifted its holdings in shares of Pulmonx by 27.0% in the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock worth $106,000 after acquiring an additional 3,310 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Pulmonx in the 3rd quarter worth about $480,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Pulmonx during the 3rd quarter worth about $537,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Price Performance

Pulmonx stock opened at $7.48 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. The stock has a market cap of $297.67 million, a price-to-earnings ratio of -5.19 and a beta of 0.50. The firm has a 50-day moving average of $6.96 and a two-hundred day moving average of $6.94. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $10.01.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. The firm had revenue of $23.77 million during the quarter, compared to analyst estimates of $22.29 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. On average, research analysts forecast that Pulmonx Co. will post -1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup reissued a “neutral” rating and issued a $7.50 price objective (down from $17.00) on shares of Pulmonx in a research report on Wednesday, December 11th. Wells Fargo & Company cut their target price on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.75.

Insider Transactions at Pulmonx

In other news, CEO Steven S. Williamson sold 27,689 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.14, for a total value of $197,699.46. Following the completion of the sale, the chief executive officer now owns 194,342 shares in the company, valued at approximately $1,387,601.88. The trade was a 12.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Aaron Lehman sold 22,355 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.65, for a total transaction of $171,015.75. Following the completion of the sale, the general counsel now directly owns 175,496 shares of the company’s stock, valued at $1,342,544.40. The trade was a 11.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,986 shares of company stock valued at $986,673. 5.70% of the stock is currently owned by corporate insiders.

Pulmonx Profile

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.