Prelude Capital Management LLC bought a new position in shares of Pulmonx Co. (NASDAQ:LUNG – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,704 shares of the company’s stock, valued at approximately $362,000. Prelude Capital Management LLC owned about 0.06% of Pulmonx at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of LUNG. Swiss National Bank increased its holdings in shares of Pulmonx by 8.9% during the 1st quarter. Swiss National Bank now owns 47,900 shares of the company’s stock valued at $1,188,000 after acquiring an additional 3,900 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Pulmonx by 58.5% in the first quarter. MetLife Investment Management LLC now owns 15,791 shares of the company’s stock worth $392,000 after buying an additional 5,828 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Pulmonx by 6.4% during the 1st quarter. Rhumbline Advisers now owns 26,701 shares of the company’s stock worth $662,000 after buying an additional 1,617 shares during the period. BlackRock Inc. raised its holdings in Pulmonx by 1.5% in the 1st quarter. BlackRock Inc. now owns 2,760,055 shares of the company’s stock worth $68,477,000 after acquiring an additional 41,724 shares during the period. Finally, Sei Investments Co. lifted its position in Pulmonx by 36.0% during the 1st quarter. Sei Investments Co. now owns 111,500 shares of the company’s stock worth $2,766,000 after acquiring an additional 29,500 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.
Insider Activity at Pulmonx
In other Pulmonx news, CEO Glendon E. French III sold 2,895 shares of Pulmonx stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $11.03, for a total transaction of $31,931.85. Following the completion of the transaction, the chief executive officer now directly owns 1,032,580 shares of the company’s stock, valued at $11,389,357.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,365 shares of company stock valued at $59,176 in the last 90 days. 8.50% of the stock is owned by corporate insiders.
Pulmonx Price Performance
Pulmonx (NASDAQ:LUNG – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. Pulmonx had a negative net margin of 109.80% and a negative return on equity of 35.08%. The firm had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $13.98 million. During the same quarter last year, the company earned ($0.35) earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Pulmonx Co. will post -1.75 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms recently weighed in on LUNG. Canaccord Genuity Group boosted their price objective on Pulmonx from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Morgan Stanley raised their price objective on shares of Pulmonx from $9.50 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Bank of America cut shares of Pulmonx from a “neutral” rating to an “underperform” rating and set a $8.00 target price for the company. in a research note on Tuesday, January 3rd. Citigroup raised their price target on shares of Pulmonx from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. Finally, Wells Fargo & Company raised shares of Pulmonx from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $10.00 to $15.00 in a research report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.38.
About Pulmonx
Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult 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.
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