Fmr LLC Increases Holdings in Pulmonx Co. (NASDAQ:LUNG)

FMR LLC raised its holdings in Pulmonx Co. (NASDAQ:LUNG - Free Report) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,872,882 shares of the company's stock after acquiring an additional 591,859 shares during the quarter. FMR LLC owned approximately 14.87% of Pulmonx worth $48,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of Pulmonx during the 3rd quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pulmonx during the 2nd quarter worth $37,000. Hsbc Holdings PLC bought a new position in shares of Pulmonx during the 2nd quarter worth $93,000. Mackenzie Financial Corp bought a new position in shares of Pulmonx during the 2nd quarter worth $102,000. Finally, SG Americas Securities LLC bought a new position in shares of Pulmonx during the 3rd quarter worth $102,000. Institutional investors own 91.04% of the company's stock.

Insider Activity

In other news, General Counsel David Aaron Lehman sold 5,497 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.19, for a total value of $34,026.43. Following the transaction, the general counsel now owns 197,851 shares in the company, valued at $1,224,697.69. This trade represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glendon E. French III sold 20,000 shares of the firm'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 value of $130,400.00. Following the completion of the transaction, the director now owns 1,091,974 shares in the company, valued at approximately $7,119,670.48. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,873 shares of company stock valued at $485,870. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus decreased 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 issued a buy rating to the company. According to MarketBeat, Pulmonx has an average rating of "Moderate Buy" and an average target price of $14.67.

Pulmonx Stock Up 3.9 %

Shares of NASDAQ LUNG traded up $0.24 during mid-day trading on Friday, reaching $6.40. 268,204 shares of the company were exchanged, compared to its average volume of 183,265. 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 stock has a market cap of $252.74 million, a price-to-earnings ratio of -4.35 and a beta of 0.69. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $14.84. The firm has a 50-day moving average of $6.69 and a 200 day moving average of $6.95.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly 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 company had revenue of $20.39 million during the quarter, compared to analysts' expectations of $20.39 million. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. During the same period last year, the business posted ($0.39) earnings per share. On average, research analysts expect that Pulmonx Co. will post -1.53 earnings per share for the current year.

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.