Birchview Capital LP Buys New Stake in Pulmonx Co. (NASDAQ:LUNG)

Birchview Capital LP purchased a new position in shares of Pulmonx Co. (NASDAQ:LUNG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,000 shares of the company's stock, valued at approximately $346,000. Birchview Capital LP owned approximately 0.13% of Pulmonx at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in Pulmonx during the fourth quarter worth about $417,000. Rock Springs Capital Management LP increased its position in Pulmonx by 11.7% during the fourth quarter. Rock Springs Capital Management LP now owns 772,151 shares of the company's stock worth $5,243,000 after acquiring an additional 80,851 shares during the period. Stifel Financial Corp bought a new position in Pulmonx during the fourth quarter worth about $81,000. Dimensional Fund Advisors LP increased its position in Pulmonx by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 408,022 shares of the company's stock worth $2,770,000 after acquiring an additional 60,489 shares during the period. Finally, Altium Capital Management LLC grew its stake in Pulmonx by 63.0% during the fourth quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock worth $5,534,000 after buying an additional 315,000 shares in the last quarter. 91.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Pulmonx

In other news, CEO Steven S. Williamson sold 27,689 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.14, for a total transaction of $197,699.46. Following the sale, the chief executive officer now owns 194,342 shares of the company's stock, valued at $1,387,601.88. This trade represents a 12.47 % decrease in their position. The sale 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 dated Thursday, March 20th. The shares were sold at an average price of $7.85, for a total transaction of $157,000.00. Following the sale, the director now directly owns 991,974 shares in the company, valued at approximately $7,786,995.90. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,660 shares of company stock worth $1,128,484. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LUNG. Morgan Stanley began coverage on shares of Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating on the stock. Jefferies Financial Group began coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a "buy" rating on the stock. Piper Sandler reiterated an "overweight" rating and set a $9.00 price objective (down from $10.00) on shares of Pulmonx in a research note on Thursday. Citigroup assumed coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a "buy" rating on the stock. Finally, D. Boral Capital restated a "buy" rating and issued a $17.00 price target on shares of Pulmonx in a research note on Thursday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.21.

Pulmonx Stock Performance

Pulmonx stock traded down $1.18 during mid-day trading on Thursday, reaching $3.66. The company's stock had a trading volume of 771,359 shares, compared to its average volume of 316,835. Pulmonx Co. has a 12-month low of $3.64 and a 12-month high of $10.01. The company has a market capitalization of $147.10 million, a P/E ratio of -2.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. The firm's fifty day moving average price is $6.63 and its two-hundred day moving average price is $6.57.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.01. The firm had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.03 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. Sell-side analysts predict 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.