Pulmonx Co. (NASDAQ:LUNG) Position Boosted by Rock Springs Capital Management LP

Rock Springs Capital Management LP lifted its holdings in Pulmonx Co. (NASDAQ:LUNG - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 772,151 shares of the company's stock after buying an additional 80,851 shares during the quarter. Rock Springs Capital Management LP owned approximately 1.96% of Pulmonx worth $5,243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Stifel Financial Corp bought a new position in Pulmonx in the fourth quarter worth about $81,000. Dimensional Fund Advisors LP lifted its holdings in shares of Pulmonx by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 408,022 shares of the company's stock worth $2,770,000 after purchasing an additional 60,489 shares during the last quarter. Altium Capital Management LLC boosted its position in Pulmonx by 63.0% during the 4th quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock valued at $5,534,000 after purchasing an additional 315,000 shares during the period. XTX Topco Ltd bought a new position in Pulmonx during the 4th quarter worth $146,000. Finally, Renaissance Technologies LLC grew its stake in Pulmonx by 38.7% during the 4th quarter. Renaissance Technologies LLC now owns 220,510 shares of the company's stock worth $1,497,000 after buying an additional 61,500 shares during the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Pulmonx Price Performance

LUNG traded up $0.23 during trading on Wednesday, reaching $4.99. The stock had a trading volume of 315,802 shares, compared to its average volume of 318,182. The stock has a 50 day moving average of $6.88 and a two-hundred day moving average of $6.63. 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 firm has a market capitalization of $200.83 million, a price-to-earnings ratio of -3.47 and a beta of 0.61. Pulmonx Co. has a 1-year low of $4.15 and a 1-year high of $10.01.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.12. The business had revenue of $23.77 million during the quarter, compared to analyst estimates of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. As a group, equities analysts anticipate that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Geoffrey Beran Rose sold 5,779 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $7.13, for a total value of $41,204.27. Following the completion of the transaction, the insider now owns 285,278 shares of the company's stock, valued at approximately $2,034,032.14. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glendon E. French III sold 55,453 shares of Pulmonx stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $8.28, for a total transaction of $459,150.84. Following the transaction, the director now owns 1,011,974 shares in the company, valued at approximately $8,379,144.72. The trade was a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,660 shares of company stock valued at $1,128,484. 5.70% of the stock is owned by corporate insiders.

Pulmonx 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.