Connor Clark & Lunn Investment Management Ltd. Buys 25,988 Shares of Pulmonx Co. (NASDAQ:LUNG)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Pulmonx Co. (NASDAQ:LUNG) by 44.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,941 shares of the company’s stock after purchasing an additional 25,988 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.21% of Pulmonx worth $570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Pulmonx by 5.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,114,297 shares of the company’s stock valued at $9,238,000 after buying an additional 55,279 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Pulmonx by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 313,169 shares of the company’s stock valued at $2,596,000 after purchasing an additional 15,543 shares during the period. FMR LLC grew its stake in shares of Pulmonx by 11.2% during the third quarter. FMR LLC now owns 5,872,882 shares of the company’s stock worth $48,686,000 after purchasing an additional 591,859 shares during the period. Millrace Asset Group Inc. bought a new stake in Pulmonx in the third quarter valued at about $1,390,000. Finally, PDT Partners LLC boosted its holdings in Pulmonx by 25.3% during the third quarter. PDT Partners LLC now owns 88,074 shares of the company’s stock worth $730,000 after buying an additional 17,784 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Pulmonx in a research report on Monday, March 10th. They issued an “equal weight” rating on the stock. Jefferies Financial Group started coverage on Pulmonx in a research note on Monday, March 10th. They set a “buy” rating for the company. Citigroup initiated coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating on the stock. Wells Fargo & Company dropped their price objective on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, D. Boral Capital began coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating and a $17.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.36.

Insider Activity at Pulmonx

In related news, insider Geoffrey Beran Rose sold 5,779 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.13, for a total value of $41,204.27. Following the transaction, the insider now owns 285,278 shares in the company, valued at approximately $2,034,032.14. This represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glendon E. French III sold 55,453 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.28, for a total value of $459,150.84. Following the completion of the transaction, the director now directly owns 1,011,974 shares in the company, valued at $8,379,144.72. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,986 shares of company stock valued at $1,143,673. 5.70% of the stock is owned by corporate insiders.

Pulmonx Stock Up 0.9 %

Pulmonx stock opened at $7.77 on Friday. The company has a fifty day simple moving average of $7.14 and a 200 day simple moving average of $6.96. Pulmonx Co. has a 1-year low of $5.46 and a 1-year high of $10.01. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The company has a market cap of $309.21 million, a P/E ratio of -5.40 and a beta of 0.50.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.12. The business had revenue of $23.77 million for 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%. Research analysts anticipate that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

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.