Pulmonx Co. (NASDAQ:LUNG) Stake Lessened by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in Pulmonx Co. (NASDAQ:LUNG) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,512,291 shares of the company’s stock after selling 163,720 shares during the period. Primecap Management Co. CA owned about 0.14% of Pulmonx worth $37,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LUNG. GSA Capital Partners LLP bought a new stake in shares of Pulmonx in the third quarter worth $537,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Pulmonx in the third quarter worth $480,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted 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 worth $9,238,000 after purchasing an additional 55,279 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Pulmonx by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 313,169 shares of the company’s stock worth $2,596,000 after purchasing an additional 15,543 shares during the period. Finally, FMR LLC boosted its holdings in Pulmonx by 11.2% in 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. Institutional investors own 91.04% of the company’s stock.

Pulmonx Stock Performance

LUNG stock opened at $7.97 on Wednesday. The company has a market capitalization of $317.17 million, a P/E ratio of -5.53 and a beta of 0.50. The company has a 50-day simple moving average of $7.07 and a 200 day simple moving average of $6.94. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $10.01. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. The business had revenue of $23.77 million during the quarter, compared to the consensus estimate of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. Sell-side analysts predict that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pulmonx news, Director Glendon E. French III sold 55,453 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.28, for a total value of $459,150.84. Following the sale, the director now directly owns 1,011,974 shares in the company, valued at approximately $8,379,144.72. The trade was a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven S. Williamson sold 27,689 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.14, for a total transaction 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. This trade represents a 12.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,986 shares of company stock valued at $986,673 over the last 90 days. 5.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LUNG has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They issued an “equal weight” rating for the company. Wells Fargo & Company reduced their price target on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Citigroup started coverage on shares of Pulmonx in a report on Monday, March 10th. They set a “buy” rating for the company. D. Boral Capital started coverage on shares of Pulmonx in a report on Monday, March 10th. They set a “buy” rating and a $17.00 price target for the company. Finally, Jefferies Financial Group started coverage on shares of Pulmonx in a report on Monday, March 10th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.36.

Pulmonx Company 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.