Jacobs Levy Equity Management Inc. Cuts Holdings in Pulmonx Co. (NASDAQ:LUNG)

Jacobs Levy Equity Management Inc. reduced its position in shares of Pulmonx Co. (NASDAQ:LUNG - Free Report) by 38.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 301,361 shares of the company's stock after selling 188,926 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.76% of Pulmonx worth $2,498,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. 272 Capital LP bought a new position in shares of Pulmonx during the third quarter valued at $25,000. nVerses Capital LLC purchased a new position in Pulmonx in the 3rd quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Pulmonx during the 2nd quarter valued at about $37,000. SG Americas Securities LLC purchased a new stake in shares of Pulmonx during the 3rd quarter valued at about $102,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Pulmonx in the second quarter worth approximately $93,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

Pulmonx Stock Performance

Shares of NASDAQ LUNG traded up $0.24 during midday trading on Friday, hitting $6.40. 268,204 shares of the company's stock traded hands, compared to its average volume of 183,265. The firm has a fifty day moving average of $6.69 and a 200 day moving average of $6.95. 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 quick ratio of 6.77 and a current ratio of 7.70. The stock has a market capitalization of $252.74 million, a price-to-earnings ratio of -4.35 and a beta of 0.69.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.07. The business had revenue of $20.39 million during the quarter, compared to analysts' expectations of $20.39 million. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. During the same period in the prior year, the company earned ($0.39) earnings per share. On average, analysts forecast that Pulmonx Co. will post -1.53 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Glendon E. French III sold 20,000 shares of the company's 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 completion of the transaction, the director now owns 1,111,974 shares of the company's stock, valued at $8,995,869.66. This represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Geoffrey Beran Rose sold 4,376 shares of Pulmonx stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.18, for a total value of $27,043.68. Following the sale, the insider now directly owns 291,057 shares in the company, valued at $1,798,732.26. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,873 shares of company stock valued at $485,870. 5.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered their price objective on shares of Pulmonx from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $14.67.

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.