JPMorgan Chase & Co. Trims Stock Position in Pulmonx Co. (NASDAQ:LUNG)

JPMorgan Chase & Co. trimmed its position in Pulmonx Co. (NASDAQ:LUNG - Free Report) by 27.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 768,430 shares of the company's stock after selling 287,092 shares during the period. JPMorgan Chase & Co. owned about 1.95% of Pulmonx worth $5,218,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. 272 Capital LP acquired a new position in Pulmonx during the third quarter worth about $48,000. R Squared Ltd acquired a new position in shares of Pulmonx during the 4th quarter worth approximately $46,000. SG Americas Securities LLC grew its position in shares of Pulmonx by 27.0% in the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock valued at $106,000 after purchasing an additional 3,310 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Pulmonx by 8.8% in the fourth quarter. American Century Companies Inc. now owns 34,738 shares of the company's stock valued at $236,000 after purchasing an additional 2,810 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Pulmonx by 4.9% during the fourth quarter. Rhumbline Advisers now owns 53,503 shares of the company's stock worth $363,000 after buying an additional 2,488 shares in the last quarter. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on LUNG shares. Citigroup started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a "buy" rating on the stock. Jefferies Financial Group began coverage on shares of Pulmonx in a research report on Monday, March 10th. They set a "buy" rating on the stock. Morgan Stanley began coverage on Pulmonx in a research report on Monday, March 10th. They issued an "equal weight" rating for the company. Finally, D. Boral Capital assumed coverage on Pulmonx in a research report on Monday, March 10th. They issued a "buy" rating and a $17.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.75.

Insiders Place Their Bets

In related news, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $7.85, for a total value of $157,000.00. Following the completion of the transaction, the director now owns 991,974 shares in the company, valued at $7,786,995.90. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David Aaron Lehman sold 22,355 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.65, for a total transaction of $171,015.75. Following the transaction, the general counsel now owns 175,496 shares of the company's stock, valued at $1,342,544.40. This trade represents a 11.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,660 shares of company stock worth $1,128,484 over the last 90 days. Corporate insiders own 5.70% of the company's stock.

Pulmonx Trading Up 7.8 %

Pulmonx stock traded up $0.37 during trading on Wednesday, hitting $5.13. The company had a trading volume of 38,374 shares, compared to its average volume of 316,793. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The company's 50 day simple moving average is $6.92 and its 200-day simple moving average is $6.64. Pulmonx Co. has a 1-year low of $4.15 and a 1-year high of $10.01. The stock has a market cap of $206.47 million, a price-to-earnings ratio of -3.56 and a beta of 0.61.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share 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 during the quarter, compared to the consensus estimate of $22.29 million. As a group, analysts expect that Pulmonx Co. will post -1.55 EPS for the current fiscal 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.