Millennium Management LLC Has $2.84 Million Position in Pulmonx Co. (NASDAQ:LUNG)

Millennium Management LLC reduced its stake in shares of Pulmonx Co. (NASDAQ:LUNG) by 31.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,623 shares of the company’s stock after selling 201,611 shares during the quarter. Millennium Management LLC’s holdings in Pulmonx were worth $2,844,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Pulmonx by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock valued at $332,000 after buying an additional 1,633 shares in the last quarter. Sei Investments Co. increased its stake 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 buying an additional 1,800 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pulmonx in the second quarter valued at $37,000. Allspring Global Investments Holdings LLC increased its stake in shares of Pulmonx by 609.7% in 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. Finally, Victory Capital Management Inc. increased its stake in shares of Pulmonx by 1.0% in the second quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock valued at $5,289,000 after buying an additional 8,004 shares in the last quarter. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LUNG shares. Canaccord Genuity Group raised their target price on Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Pulmonx Price Performance

Shares of LUNG opened at $6.85 on Tuesday. The company has a current ratio of 8.97, a quick ratio of 7.92 and a debt-to-equity ratio of 0.37. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $14.84. The stock has a market cap of $265.89 million, a P/E ratio of -4.45 and a beta of 0.64. The stock’s 50-day moving average price is $7.22 and its two-hundred day moving average price is $7.42.

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

Insider Activity at Pulmonx

In related news, CEO Steven S. Williamson acquired 14,245 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average cost of $6.84 per share, for a total transaction of $97,435.80. Following the completion of the acquisition, the chief executive officer now directly owns 219,531 shares in the company, valued at approximately $1,501,592.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Steven S. Williamson acquired 14,245 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $6.84 per share, with a total value of $97,435.80. Following the transaction, the chief executive officer now directly owns 219,531 shares in the company, valued at approximately $1,501,592.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel David Aaron Lehman sold 5,765 shares of Pulmonx stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.69, for a total transaction of $38,567.85. Following the completion of the transaction, the general counsel now directly owns 203,348 shares of the company’s stock, valued at approximately $1,360,398.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,351 shares of company stock worth $231,094. 5.70% of the stock is owned by company insiders.

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.