Pulmonx Co. (NASDAQ:LUNG) Shares Purchased by Fmr LLC

Fmr LLC boosted its stake in shares of Pulmonx Co. (NASDAQ:LUNG) by 11.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,872,882 shares of the company’s stock after acquiring an additional 591,859 shares during the period. Fmr LLC owned about 14.87% of Pulmonx worth $48,686,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Pulmonx by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock valued at $332,000 after acquiring an additional 1,633 shares during the last quarter. nVerses Capital LLC acquired a new position in Pulmonx in the 3rd quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pulmonx in the 2nd quarter valued at $37,000. Victory Capital Management Inc. boosted its stake in Pulmonx by 1.0% during the 2nd quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock worth $5,289,000 after purchasing an additional 8,004 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Pulmonx by 0.6% during the first quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock worth $19,262,000 after buying an additional 11,417 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Insider Activity at Pulmonx

In other news, General Counsel David Aaron Lehman sold 5,497 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.19, for a total value of $34,026.43. Following the sale, the general counsel now directly owns 197,851 shares in the company, valued at approximately $1,224,697.69. This trade represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glendon E. French III sold 20,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $6.52, for a total value of $130,400.00. Following the transaction, the director now directly owns 1,091,974 shares of the company’s stock, valued at $7,119,670.48. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,873 shares of company stock worth $485,870. 5.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.67.

Pulmonx Price Performance

Shares of LUNG opened at $6.40 on Friday. The firm has a 50-day simple moving average of $6.69 and a two-hundred day simple moving average of $6.96. The stock has a market cap of $252.74 million, a PE ratio of -4.35 and a beta of 0.69. Pulmonx Co. has a 1-year low of $5.46 and a 1-year high of $14.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $20.39 million. During the same quarter last year, the firm earned ($0.39) EPS. As a group, analysts forecast that Pulmonx Co. will post -1.53 EPS for the current year.

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.