BlackRock Inc. Takes Position in Pulmonx Corporation $LUNG

Key Points

• BlackRock acquired 882,490 Pulmonx shares during the second quarter, worth approximately $1.15 million and representing about 2.05% of the company. Institutional investors and hedge funds collectively own 91.04% of Pulmonx.
• Pulmonx’s latest quarterly results exceeded expectations, with revenue of $22.76 million and a loss of $0.24 per share versus analyst estimates of $22.39 million and a $0.28 loss.
• Analyst sentiment is moderately positive, with three Buy ratings and one Sell rating and an average price target of $7.67. However, the company remains unprofitable, with analysts forecasting a full-year loss of approximately $1.05 per share.

BlackRock Inc. purchased a new position in Pulmonx Corporation (NASDAQ:LUNG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 882,490 shares of the company's stock, valued at approximately $1,147,000. BlackRock Inc. owned about 2.05% of Pulmonx as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new position in Pulmonx during the fourth quarter valued at approximately $4,312,000. Vestal Point Capital LP acquired a new stake in Pulmonx in the third quarter worth $1,345,000. Bank of America Corp DE boosted its position in shares of 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 purchasing an additional 439,027 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Pulmonx during the second quarter worth $523,000. Finally, Birchview Capital LP acquired a new position in shares of Pulmonx in the 4th quarter valued at $554,000. 91.04% of the stock is owned by institutional investors and hedge funds.

Pulmonx Stock Performance

Shares of LUNG opened at $2.21 on Monday. Pulmonx Corporation has a 12 month low of $1.13 and a 12 month high of $2.89. The firm has a fifty day simple moving average of $1.82 and a 200 day simple moving average of $1.57. The stock has a market capitalization of $94.92 million, a price-to-earnings ratio of -1.91 and a beta of 0.34. The company has a current ratio of 4.32, a quick ratio of 3.52 and a debt-to-equity ratio of 0.95.

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

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings raised Pulmonx from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 25th. Wall Street Zen raised Pulmonx from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Pulmonx presently has an average rating of "Moderate Buy" and an average price target of $7.67.

Key Stories Impacting Pulmonx

Here are the key news stories impacting Pulmonx this week:

• Positive Sentiment: Analyst sentiment remains broadly favorable, with three Buy ratings and one Sell rating producing a “Moderate Buy” consensus. The average price target of $7.67 is substantially above recent trading levels, suggesting significant potential upside if Pulmonx delivers on its growth plans. Pulmonx analyst and earnings information
• Positive Sentiment: Pulmonx’s latest quarterly results exceeded expectations: revenue was $22.76 million versus the $22.39 million consensus estimate, while its loss of $0.24 per share was narrower than the expected $0.28 loss. Pulmonx quarterly results
• Neutral Sentiment: CEO Glendon French III, General Counsel David Lehman, Geoffrey Rose and Srikanth Radhakrishnan sold a combined 78,340 shares at approximately $2.26 per share. The filings say the transactions covered tax-withholding obligations related to vested equity awards, reducing their significance as a signal of declining confidence; however, the sales may add modest short-term supply. Pulmonx insider sales report
• Negative Sentiment: Recent gains have triggered profit-taking, contributing to the stock’s retreat and weakening short-term trading sentiment. Pulmonx shares fall following recent gains
• Negative Sentiment: Pulmonx remains unprofitable, and analysts expect a full-year loss of roughly $1.05 per share. The company’s negative margins and uncertain path to sustained profitability are keeping investors cautious despite the earnings beat. Pulmonx profit-taking and earnings outlook

Insider Activity at Pulmonx

In other Pulmonx news, CEO Glendon E. French III sold 41,882 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total transaction of $94,653.32. Following the sale, the chief executive officer directly owned 1,137,936 shares of the company's stock, valued at approximately $2,571,735.36. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Srikanth Radhakrishnan sold 14,245 shares of Pulmonx stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.26, for a total value of $32,193.70. Following the transaction, the insider owned 316,994 shares of the company's stock, valued at $716,406.44. The trade was a 4.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 78,340 shares of company stock valued at $177,048. 7.50% of the stock is owned by insiders.

Pulmonx Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.