Connor Clark & Lunn Investment Management Ltd. Buys 25,988 Shares of Pulmonx Co. (NASDAQ:LUNG)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Pulmonx Co. (NASDAQ:LUNG) by 44.8% in the 4th quarter, HoldingsChannel reports. The firm owned 83,941 shares of the company’s stock after acquiring an additional 25,988 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pulmonx were worth $570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LUNG. FMR LLC lifted its stake 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 purchasing an additional 591,859 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Pulmonx by 5.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,114,297 shares of the company’s stock valued at $9,238,000 after buying an additional 55,279 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Pulmonx by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 1,055,522 shares of the company’s stock valued at $8,750,000 after buying an additional 25,002 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Pulmonx by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 892,786 shares of the company’s stock valued at $7,403,000 after acquiring an additional 11,151 shares during the last quarter. Finally, State Street Corp grew its position in Pulmonx by 2.6% during the 3rd quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after acquiring an additional 18,592 shares during the last quarter. Institutional investors own 91.04% of the company’s stock.

Insider Buying and Selling at Pulmonx

In related news, insider Geoffrey Beran Rose sold 5,779 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.13, for a total value of $41,204.27. Following the transaction, the insider now owns 285,278 shares of the company’s stock, valued at approximately $2,034,032.14. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glendon E. French III sold 55,453 shares of Pulmonx stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.28, for a total value of $459,150.84. Following the transaction, the director now owns 1,011,974 shares of the company’s stock, valued at $8,379,144.72. This trade represents a 5.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,986 shares of company stock valued at $1,143,673. Corporate insiders own 5.70% of the company’s stock.

Pulmonx Stock Performance

Shares of LUNG stock opened at $7.77 on Friday. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. Pulmonx Co. has a 52 week low of $5.46 and a 52 week high of $10.01. The firm has a 50 day moving average of $7.14 and a 200-day moving average of $6.96. The company has a market cap of $309.21 million, a price-to-earnings ratio of -5.40 and a beta of 0.50.

Pulmonx (NASDAQ:LUNG) last issued its earnings results on Wednesday, February 19th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. The business had revenue of $23.77 million during the quarter, compared to analyst estimates of $22.29 million. On average, equities analysts forecast that Pulmonx Co. will post -1.55 earnings per share for the current year.

Analysts Set New Price Targets

LUNG has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Pulmonx in a report on Monday, March 10th. They issued a “buy” rating for the company. Wells Fargo & Company reduced their target price on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Morgan Stanley began coverage on Pulmonx in a report on Monday, March 10th. They issued an “equal weight” rating for the company. Citigroup started coverage on Pulmonx in a report on Monday, March 10th. They set a “buy” rating on the stock. Finally, D. Boral Capital started coverage on Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating and a $17.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.36.

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.