Deerfield Management Company L.P. Series C Takes $10.42 Million Position in Pulmonx Co. (NASDAQ:LUNG)

Deerfield Management Company L.P. Series C acquired 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 acquired 1,534,763 shares of the company's stock, valued at approximately $10,421,000. Deerfield Management Company L.P. Series C owned about 3.89% of Pulmonx at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Pulmonx in the 4th quarter valued at $43,000. R Squared Ltd bought a new position in Pulmonx in the 4th quarter valued at $46,000. Stifel Financial Corp bought a new position in shares of Pulmonx during the 4th quarter valued at about $81,000. SG Americas Securities LLC increased its holdings in Pulmonx by 27.0% during the 4th 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 during the period. Finally, Wells Fargo & Company MN raised its holdings in Pulmonx by 48.7% in the fourth quarter. Wells Fargo & Company MN now owns 18,418 shares of the company's stock worth $125,000 after purchasing an additional 6,033 shares in the last quarter. 91.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group began coverage on Pulmonx in a report on Monday, March 10th. They issued a "buy" rating on the stock. Canaccord Genuity Group reduced their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup assumed coverage on Pulmonx in a report on Monday, March 10th. They issued a "buy" rating for the company. Piper Sandler restated an "overweight" rating and issued a $9.00 target price (down from $10.00) on shares of Pulmonx in a report on Thursday, May 1st. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $17.00 price target on shares of Pulmonx in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.07.

Insider Buying and Selling

In related news, CEO Steven S. Williamson sold 27,689 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.14, for a total value of $197,699.46. Following the completion of the transaction, the chief executive officer now directly owns 194,342 shares in the company, valued at approximately $1,387,601.88. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Glendon E. French III sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was 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 directly 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 disclosure for this sale can be found here. Insiders sold 145,660 shares of company stock valued at $1,128,484 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

Pulmonx Price Performance

Shares of LUNG stock traded down $0.19 during trading hours on Tuesday, hitting $3.49. The stock had a trading volume of 102,154 shares, compared to its average volume of 309,667. The stock has a market capitalization of $140.50 million, a price-to-earnings ratio of -2.42 and a beta of 0.65. The stock's 50-day moving average price is $5.83 and its two-hundred day moving average price is $6.42. Pulmonx Co. has a one year low of $3.36 and a one year high of $9.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. The business 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%. Equities analysts forecast that Pulmonx Co. will post -1.55 EPS for the current year.

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.