Pulmonx Co. (NASDAQ:LUNG) Position Lessened by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its stake in shares of Pulmonx Co. (NASDAQ:LUNG) by 91.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,949 shares of the company’s stock after selling 2,474,183 shares during the period. Point72 Asset Management L.P. owned 0.62% of Pulmonx worth $1,528,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LUNG. Allspring Global Investments Holdings LLC raised its holdings in Pulmonx by 609.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock valued at $79,000 after buying an additional 7,316 shares in the last quarter. Sei Investments Co. grew its position in shares of Pulmonx by 2.5% in the first quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock valued at $673,000 after purchasing an additional 1,800 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Pulmonx by 6.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 989,423 shares of the company’s stock valued at $9,172,000 after purchasing an additional 59,835 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Pulmonx by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock valued at $19,262,000 after purchasing an additional 11,417 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Pulmonx in the first quarter valued at about $102,000. 91.04% of the stock is currently owned by institutional investors.

Pulmonx Stock Down 1.7 %

NASDAQ:LUNG opened at $7.31 on Friday. The stock’s fifty day moving average price is $7.22 and its two-hundred day moving average price is $7.56. Pulmonx Co. has a 52-week low of $5.46 and a 52-week high of $14.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.92 and a current ratio of 8.97. The company has a market cap of $283.74 million, a price-to-earnings ratio of -4.75 and a beta of 0.63.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. The company had revenue of $20.78 million for the quarter, compared to the consensus estimate of $20.23 million. Pulmonx had a negative return on equity of 50.79% and a negative net margin of 75.56%. On average, analysts anticipate that Pulmonx Co. will post -1.64 EPS for the current year.

Insiders Place Their Bets

In other Pulmonx news, Director Glendon E. French III sold 20,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $8.09, for a total transaction of $161,800.00. Following the completion of the transaction, the director now owns 1,111,974 shares in the company, valued at approximately $8,995,869.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Glendon E. French III sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $8.09, for a total value of $161,800.00. Following the completion of the sale, the director now directly owns 1,111,974 shares in the company, valued at approximately $8,995,869.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geoffrey Beran Rose sold 4,586 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.70, for a total transaction of $30,726.20. Following the completion of the sale, the insider now owns 295,433 shares of the company’s stock, valued at $1,979,401.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,351 shares of company stock worth $231,094. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price target on Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Pulmonx 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.