Primecap Management Co. CA Has $37.43 Million Stock Holdings in Pulmonx Co. (NASDAQ:LUNG)

Primecap Management Co. CA decreased its stake in Pulmonx Co. (NASDAQ:LUNG - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,512,291 shares of the company's stock after selling 163,720 shares during the period. Primecap Management Co. CA owned 13.96% of Pulmonx worth $37,428,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Pulmonx by 1.8% in the 3rd quarter. Barclays PLC now owns 94,109 shares of the company's stock worth $780,000 after purchasing an additional 1,679 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pulmonx by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company's stock worth $2,142,000 after purchasing an additional 2,363 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Pulmonx by 4.9% in the 4th quarter. Rhumbline Advisers now owns 53,503 shares of the company's stock worth $363,000 after purchasing an additional 2,488 shares during the last quarter. 272 Capital LP bought a new stake in shares of Pulmonx in the 3rd quarter worth approximately $25,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Pulmonx by 27.0% in the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock worth $106,000 after purchasing an additional 3,310 shares during the last quarter. Institutional investors own 91.04% of the company's stock.

Wall Street Analyst Weigh In

LUNG has been the topic of several recent research reports. Citigroup started coverage on Pulmonx in a report on Monday, March 10th. They issued a "buy" rating on the stock. D. Boral Capital started coverage on Pulmonx in a research note on Monday, March 10th. They set a "buy" rating and a $17.00 target price on the stock. Wells Fargo & Company cut their target price on Pulmonx from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group started coverage on Pulmonx in a research note on Monday, March 10th. They set a "buy" rating on the stock. Finally, Morgan Stanley started coverage on Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Pulmonx currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.36.

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Pulmonx Price Performance

Shares of LUNG stock traded up $0.07 during mid-day trading on Friday, hitting $7.77. 371,967 shares of the stock traded hands, compared to its average volume of 321,781. Pulmonx Co. has a twelve month low of $5.46 and a twelve month high of $10.01. The firm has a market cap of $309.21 million, a price-to-earnings ratio of -5.40 and a beta of 0.50. The company's 50-day simple moving average is $7.14 and its 200-day simple moving average is $6.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $23.77 million for the quarter, compared to analysts' expectations of $22.29 million. As a group, equities research analysts expect that Pulmonx Co. will post -1.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Mehul Joshi sold 14,384 shares of Pulmonx stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.12, for a total value of $102,414.08. Following the transaction, the chief financial officer now directly owns 113,986 shares in the company, valued at $811,580.32. The trade was a 11.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven S. Williamson sold 27,689 shares of Pulmonx stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.14, for a total value of $197,699.46. Following the completion of the transaction, the chief executive officer now owns 194,342 shares in the company, valued at $1,387,601.88. The trade was a 12.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,986 shares of company stock worth $1,143,673 in the last three months. 5.70% of the stock is currently owned by insiders.

Pulmonx Company 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.