Mercer Global Advisors Inc. ADV Takes $557,000 Position in Pulmonx Co. (NASDAQ:LUNG)

Mercer Global Advisors Inc. ADV purchased a new position in shares of Pulmonx Co. (NASDAQ:LUNG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 82,070 shares of the company's stock, valued at approximately $557,000. Mercer Global Advisors Inc. ADV owned 0.21% of Pulmonx at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Pulmonx by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 1,055,522 shares of the company's stock valued at $8,750,000 after purchasing an additional 25,002 shares in the last quarter. Geode Capital Management LLC grew its stake in Pulmonx by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 902,240 shares of the company's stock valued at $6,128,000 after purchasing an additional 9,454 shares in the last quarter. Altium Capital Management LLC grew its stake in Pulmonx by 63.0% in the fourth 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 in the last quarter. Rock Springs Capital Management LP grew its stake in Pulmonx by 11.7% in the fourth quarter. Rock Springs Capital Management LP now owns 772,151 shares of the company's stock valued at $5,243,000 after purchasing an additional 80,851 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Pulmonx by 2.3% in the third quarter. Franklin Resources Inc. now owns 700,389 shares of the company's stock valued at $5,806,000 after purchasing an additional 15,570 shares in the last quarter. 91.04% of the stock is currently owned by institutional investors.

Pulmonx Stock Up 0.3%

NASDAQ:LUNG traded up $0.01 on Friday, hitting $3.43. The stock had a trading volume of 233,459 shares, compared to its average volume of 313,528. The business's fifty day moving average is $5.50 and its 200 day moving average is $6.33. The company has a market cap of $138.08 million, a PE ratio of -2.38 and a beta of 0.65. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. Pulmonx Co. has a 52 week low of $3.18 and a 52 week high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.01. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. The company had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.03 million. On average, equities research analysts expect that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Glendon E. French III sold 55,453 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.28, for a total transaction of $459,150.84. Following the completion of the transaction, the director now directly owns 1,011,974 shares in the company, valued at $8,379,144.72. The trade was a 5.20% 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 22,355 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.65, for a total value of $171,015.75. Following the transaction, the general counsel now owns 175,496 shares of the company's stock, valued at approximately $1,342,544.40. The trade was a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,660 shares of company stock worth $1,128,484. 6.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LUNG shares. Jefferies Financial Group started coverage on Pulmonx in a research note on Monday, March 10th. They set a "buy" rating for the company. Piper Sandler reiterated an "overweight" rating and set a $9.00 target price (down from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Canaccord Genuity Group reduced their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Morgan Stanley started coverage on Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating for the company. Finally, Citigroup began coverage on Pulmonx in a research note on Monday, March 10th. They set a "buy" rating for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Pulmonx presently has an average rating of "Moderate Buy" and a consensus target price of $12.07.

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.