Almitas Capital LLC Buys New Position in Pulmonx Corporation $LUNG

Key Points

• Almitas Capital initiated a position of 1,064,202 Pulmonx shares worth approximately $1.38 million, representing about 2.48% of the company. Institutional investors collectively own 91.04% of Pulmonx.
• Analyst sentiment is generally favorable, with three Buy ratings and one Sell rating; Pulmonx has an overall “Moderate Buy” rating and an average price target of $7.67.
• Pulmonx exceeded quarterly expectations, reporting a loss of $0.24 per share versus the anticipated $0.28 loss and revenue of $22.76 million. Despite the beat, the company remains unprofitable, with a negative net margin of 55.03%.

Almitas Capital LLC bought a new stake in Pulmonx Corporation (NASDAQ:LUNG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,064,202 shares of the company's stock, valued at approximately $1,383,000. Almitas Capital LLC owned approximately 2.48% of Pulmonx as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Primecap Management Co. CA bought a new position in shares of Pulmonx in the 2nd quarter valued at about $5,996,000. ExodusPoint Capital Management LP bought a new position in Pulmonx in the fourth quarter valued at approximately $4,312,000. Bank of America Corp DE increased its holdings in Pulmonx by 60.3% during the first quarter. Bank of America Corp DE now owns 1,166,826 shares of the company's stock worth $1,505,000 after buying an additional 439,027 shares during the last quarter. BlackRock Inc. bought a new stake in Pulmonx during the second quarter worth $1,147,000. Finally, Vestal Point Capital LP bought a new stake in Pulmonx during the third quarter worth $1,345,000. Institutional investors and hedge funds own 91.04% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Pulmonx from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. D. Boral Capital reaffirmed a "buy" rating and issued a $14.00 target price on shares of Pulmonx in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Pulmonx from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $7.67.

Pulmonx Stock Performance

NASDAQ LUNG opened at $2.42 on Friday. The firm has a 50-day moving average of $1.70 and a 200-day moving average of $1.53. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.52 and a current ratio of 4.32. The stock has a market cap of $103.94 million, a PE ratio of -2.09 and a beta of 0.28. Pulmonx Corporation has a 52-week low of $1.13 and a 52-week high of $2.89.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.04. The business had revenue of $22.76 million for the quarter, compared to analyst estimates of $22.39 million. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. On average, sell-side analysts anticipate that Pulmonx Corporation will post -1.05 EPS for the current year.

About Pulmonx

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company's flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.

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