Bank of New York Mellon Corp Purchases 17,740 Shares of Pulmonx Co. (NASDAQ:LUNG)

Bank of New York Mellon Corp lifted its position in Pulmonx Co. (NASDAQ:LUNG) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 157,902 shares of the company’s stock after buying an additional 17,740 shares during the period. Bank of New York Mellon Corp owned about 0.41% of Pulmonx worth $1,001,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC bought a new position in Pulmonx in the 4th quarter valued at approximately $94,000. Allspring Global Investments Holdings LLC boosted its position in shares of Pulmonx by 609.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock valued at $79,000 after buying an additional 7,316 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Pulmonx in the 1st quarter worth about $102,000. Olympiad Research LP purchased a new position in Pulmonx in the 4th quarter worth about $153,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Pulmonx during the 4th quarter valued at about $156,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Stock Performance

Shares of LUNG stock opened at $8.58 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 8.97 and a quick ratio of 7.92. The company has a market cap of $333.04 million, a price-to-earnings ratio of -5.57 and a beta of 0.63. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $14.84. The firm has a fifty day moving average price of $7.23 and a 200-day moving average price of $7.62.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, July 31st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.02. The company had revenue of $20.78 million for the quarter, compared to the consensus estimate of $20.23 million. Pulmonx had a negative return on equity of 50.79% and a negative net margin of 75.56%. As a group, equities analysts predict that Pulmonx Co. will post -1.64 earnings per share for the current year.

Insider Activity at Pulmonx

In other news, CEO Steven S. Williamson purchased 14,245 shares of the stock in a transaction on Tuesday, August 20th. The shares were acquired at an average price of $6.84 per share, with a total value of $97,435.80. Following the completion of the acquisition, the chief executive officer now directly owns 219,531 shares of the company’s stock, valued at $1,501,592.04. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Glendon E. French III sold 20,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $8.09, for a total transaction of $161,800.00. Following the completion of the sale, the director now owns 1,111,974 shares in the company, valued at $8,995,869.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven S. Williamson bought 14,245 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average cost of $6.84 per share, for a total transaction of $97,435.80. Following the purchase, the chief executive officer now directly owns 219,531 shares in the company, valued at approximately $1,501,592.04. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 31,535 shares of company stock worth $238,387. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on LUNG shares. Wells Fargo & Company reduced their price target on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Lake Street Capital began coverage on shares of Pulmonx in a research note on Tuesday, June 4th. They set a “buy” rating and a $12.00 target price for the company. Finally, Canaccord Genuity Group increased their price target on Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

About Pulmonx

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.