JPMorgan Chase & Co. Increases Stock Holdings in Pulmonx Co. (NASDAQ:LUNG)

JPMorgan Chase & Co. increased its holdings in Pulmonx Co. (NASDAQ:LUNG) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,055,522 shares of the company’s stock after acquiring an additional 25,002 shares during the quarter. JPMorgan Chase & Co.’s holdings in Pulmonx were worth $8,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LUNG. 272 Capital LP purchased a new stake in Pulmonx in the third quarter worth $25,000. nVerses Capital LLC bought a new position in Pulmonx in the third quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Pulmonx in the second quarter worth $37,000. Hsbc Holdings PLC bought a new position in Pulmonx in the second quarter worth $93,000. Finally, Mackenzie Financial Corp bought a new position in Pulmonx in the second quarter worth $102,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pulmonx Price Performance

Shares of NASDAQ:LUNG opened at $7.05 on Tuesday. Pulmonx Co. has a 1-year low of $5.46 and a 1-year high of $14.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. The business has a fifty day moving average price of $6.54 and a 200-day moving average price of $6.88. The company has a market capitalization of $278.39 million, a PE ratio of -4.80 and a beta of 0.66.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share 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 firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $20.39 million. During the same period last year, the company earned ($0.39) earnings per share. As a group, equities analysts expect that Pulmonx Co. will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $6.63, for a total value of $132,600.00. Following the completion of the sale, the director now directly owns 1,071,974 shares in the company, valued at approximately $7,107,187.62. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geoffrey Beran Rose sold 4,376 shares of Pulmonx stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.18, for a total value of $27,043.68. Following the completion of the sale, the insider now owns 291,057 shares of the company’s stock, valued at $1,798,732.26. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,873 shares of company stock worth $324,070. 5.70% of the stock is owned by corporate 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.