Jacobs Levy Equity Management Inc. reduced its stake in Pulmonx Co. (NASDAQ:LUNG - Free Report) by 38.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,361 shares of the company's stock after selling 188,926 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.76% of Pulmonx worth $2,498,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. 272 Capital LP bought a new position in shares of Pulmonx in the third quarter worth $25,000. nVerses Capital LLC bought a new stake in Pulmonx during the third quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pulmonx during the second quarter valued at $37,000. Hsbc Holdings PLC bought a new stake in Pulmonx during the second quarter valued at $93,000. Finally, Mackenzie Financial Corp bought a new stake in Pulmonx during the second quarter valued at $102,000. 91.04% of the stock is owned by institutional investors.
Separately, Stifel Nicolaus dropped their price objective on Pulmonx from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Pulmonx currently has an average rating of "Moderate Buy" and an average target price of $14.67.
View Our Latest Stock Analysis on Pulmonx
Shares of LUNG stock opened at $6.40 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. The business has a 50-day moving average price of $6.69 and a two-hundred day moving average price of $6.96. Pulmonx Co. has a 12-month low of $5.46 and a 12-month high of $14.84. The firm has a market cap of $252.74 million, a P/E ratio of -4.35 and a beta of 0.69.
Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping 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 analyst estimates of $20.39 million. During the same quarter in the previous year, the company posted ($0.39) earnings per share. Equities analysts anticipate that Pulmonx Co. will post -1.53 EPS for the current fiscal year.
In other news, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $8.09, for a total value of $161,800.00. Following the transaction, the director now owns 1,111,974 shares in the company, valued at approximately $8,995,869.66. The trade was a 1.77 % decrease in their ownership of the stock. The transaction 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 Pulmonx stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.19, for a total value of $34,026.43. Following the completion of the transaction, the general counsel now owns 197,851 shares in the company, valued at approximately $1,224,697.69. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,873 shares of company stock valued at $485,870 over the last 90 days. Insiders own 5.70% of the company's stock.
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.
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