Victory Capital Management Inc. Takes Position in Pulmonx Co. (NASDAQ:LUNG)

Posted by Defense World Staff on Oct 23rd, 2023

Victory Capital Management Inc. acquired a new stake in Pulmonx Co. (NASDAQ:LUNG – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 977,344 shares of the company’s stock, valued at approximately $12,813,000. Victory Capital Management Inc. owned about 2.59% of Pulmonx as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Lido Advisors LLC boosted its position in shares of Pulmonx by 5.4% in the 1st quarter. Lido Advisors LLC now owns 27,908 shares of the company’s stock valued at $692,000 after purchasing an additional 1,421 shares during the period. Credit Suisse AG boosted its holdings in shares of Pulmonx by 9.2% in the second quarter. Credit Suisse AG now owns 17,122 shares of the company’s stock valued at $252,000 after acquiring an additional 1,445 shares during the period. Rhumbline Advisers grew its position in shares of Pulmonx by 3.6% during the first quarter. Rhumbline Advisers now owns 45,290 shares of the company’s stock worth $506,000 after acquiring an additional 1,583 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Pulmonx in the 1st quarter valued at $40,000. Finally, US Bancorp DE raised its position in Pulmonx by 229.9% in the 1st quarter. US Bancorp DE now owns 2,316 shares of the company’s stock valued at $26,000 after purchasing an additional 1,614 shares during the last quarter. 88.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pulmonx news, insider Geoffrey Beran Rose sold 2,843 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $10.01, for a total transaction of $28,458.43. Following the sale, the insider now directly owns 253,021 shares in the company, valued at approximately $2,532,740.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pulmonx news, insider Geoffrey Beran Rose sold 2,843 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $10.01, for a total value of $28,458.43. Following the completion of the transaction, the insider now directly owns 253,021 shares of the company’s stock, valued at $2,532,740.21. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel David Aaron Lehman sold 3,772 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $10.01, for a total value of $37,757.72. Following the sale, the general counsel now directly owns 153,648 shares in the company, valued at approximately $1,538,016.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,729 shares of company stock worth $198,665. 5.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on LUNG shares. Craig Hallum initiated coverage on shares of Pulmonx in a research note on Tuesday, September 5th. They issued a “buy” rating and a $18.00 price objective on the stock. Piper Sandler boosted their price target on Pulmonx from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Finally, Citigroup increased their price objective on Pulmonx from $14.00 to $16.00 in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Get Our Latest Report on LUNG

Pulmonx Trading Up 0.8 %

NASDAQ LUNG opened at $8.47 on Monday. The company has a quick ratio of 7.62, a current ratio of 8.42 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $322.11 million, a P/E ratio of -5.26 and a beta of 0.45. Pulmonx Co. has a 52-week low of $4.07 and a 52-week high of $14.85. The firm has a 50-day moving average price of $10.07 and a 200 day moving average price of $11.63.

Pulmonx (NASDAQ:LUNG – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.43). The company had revenue of $17.20 million for the quarter, compared to analysts’ expectations of $15.86 million. Pulmonx had a negative return on equity of 40.65% and a negative net margin of 99.76%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS. Equities research analysts expect that Pulmonx Co. will post -1.69 EPS for the current year.

Pulmonx Company Profile

(Free Report)

Pulmonx Corporation, a commercial-stage 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 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.