Pulmonx Co. (NASDAQ:LUNG) Shares Purchased by State Street Corp

State Street Corp boosted its stake in shares of Pulmonx Co. (NASDAQ:LUNG) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 747,028 shares of the company’s stock after acquiring an additional 18,592 shares during the period. State Street Corp’s holdings in Pulmonx were worth $6,193,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LUNG. Parkman Healthcare Partners LLC purchased a new stake in Pulmonx in the third quarter valued at approximately $1,711,000. Squarepoint Ops LLC grew its holdings in shares of Pulmonx by 261.2% in the 2nd quarter. Squarepoint Ops LLC now owns 144,409 shares of the company’s stock worth $916,000 after acquiring an additional 104,432 shares during the period. Millrace Asset Group Inc. purchased a new stake in Pulmonx during the third quarter worth $1,390,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Pulmonx in the third quarter valued at approximately $893,000. Finally, FMR LLC increased its position in Pulmonx by 11.2% during the third quarter. FMR LLC now owns 5,872,882 shares of the company’s stock worth $48,686,000 after buying an additional 591,859 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Price Performance

LUNG stock opened at $6.70 on Friday. The firm has a market cap of $264.57 million, a P/E ratio of -4.56 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $14.84. The stock has a 50-day simple moving average of $6.48 and a 200-day simple moving average of $6.83.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, October 30th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. The company had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $20.39 million. During the same period in the prior year, the business posted ($0.39) EPS. On average, equities analysts predict that Pulmonx Co. will post -1.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LUNG shares. Citigroup reissued a “neutral” rating and issued a $7.50 target price (down previously from $17.00) on shares of Pulmonx in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price target on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Stifel Nicolaus decreased their price objective on Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Insider Activity at Pulmonx

In related news, Director Glendon E. French III sold 20,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $6.63, for a total transaction of $132,600.00. Following the completion of the sale, the director now owns 1,071,974 shares of the company’s stock, valued at $7,107,187.62. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David Aaron Lehman sold 5,497 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.19, for a total transaction of $34,026.43. Following the completion of the transaction, the general counsel now directly owns 197,851 shares in the company, valued at $1,224,697.69. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,873 shares of company stock valued at $324,070. Corporate insiders own 5.70% of the company’s stock.

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.