Polar Asset Management Partners Inc. Takes Position in Pulmonx Co. (NASDAQ:LUNG)

Polar Asset Management Partners Inc. purchased a new stake in Pulmonx Co. (NASDAQ:LUNG - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 107,684 shares of the company's stock, valued at approximately $893,000. Polar Asset Management Partners Inc. owned about 0.27% of Pulmonx at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LUNG. Parkman Healthcare Partners LLC purchased a new position in Pulmonx during the third quarter worth $1,711,000. 272 Capital LP acquired a new position in Pulmonx in the 3rd quarter valued at about $25,000. PFM Health Sciences LP purchased a new position in Pulmonx in the 3rd quarter valued at about $3,058,000. PDT Partners LLC lifted its holdings in Pulmonx by 25.3% in the 3rd quarter. PDT Partners LLC now owns 88,074 shares of the company's stock valued at $730,000 after purchasing an additional 17,784 shares in the last quarter. Finally, Millrace Asset Group Inc. acquired a new stake in shares of Pulmonx during the 3rd quarter worth about $1,390,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, Director Glendon E. French III sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $6.52, for a total transaction of $130,400.00. Following the completion of the sale, the director now directly owns 1,091,974 shares in the company, valued at $7,119,670.48. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David Aaron Lehman sold 5,497 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.19, for a total transaction of $34,026.43. Following the completion of the sale, the general counsel now directly owns 197,851 shares of the company's stock, valued at $1,224,697.69. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,873 shares of company stock valued at $485,870. Company insiders own 5.70% of the company's stock.

Pulmonx Trading Up 3.9 %

Shares of NASDAQ LUNG traded up $0.24 on Friday, reaching $6.40. 268,204 shares of the company traded hands, compared to its average volume of 380,650. The company has a 50 day moving average of $6.73 and a 200 day moving average of $6.98. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $14.84. The stock has a market capitalization of $252.72 million, a PE ratio of -4.37 and a beta of 0.69.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.07. The company had revenue of $20.39 million for the quarter, compared to analyst estimates 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 quarter last year, the business earned ($0.39) EPS. On average, equities research analysts forecast that Pulmonx Co. will post -1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Stifel Nicolaus reduced their price objective on shares of Pulmonx from $17.00 to $16.00 and set a "buy" rating on the stock in a research note 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 company. Based on data from MarketBeat, the company has a consensus 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.