303,246 Shares in Pulmonx Corporation (NASDAQ:LUNG) Bought by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC bought a new position in Pulmonx Corporation (NASDAQ:LUNG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 303,246 shares of the company's stock, valued at approximately $2,041,000. Essex Investment Management Co. LLC owned approximately 0.75% of Pulmonx at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LUNG. BNP Paribas Financial Markets purchased a new position in Pulmonx during the fourth quarter valued at approximately $43,000. ProShare Advisors LLC purchased a new position in Pulmonx during the fourth quarter valued at approximately $72,000. Stifel Financial Corp purchased a new position in Pulmonx during the fourth quarter valued at approximately $81,000. Vontobel Holding Ltd. purchased a new position in Pulmonx during the first quarter valued at approximately $82,000. Finally, Graham Capital Management L.P. grew its position in Pulmonx by 73.3% during the fourth quarter. Graham Capital Management L.P. now owns 18,071 shares of the company's stock valued at $123,000 after purchasing an additional 7,641 shares in the last quarter. 91.04% of the stock is currently owned by institutional investors.

Pulmonx Stock Performance

Shares of Pulmonx stock traded down $0.23 on Friday, reaching $1.61. The stock had a trading volume of 1,873,679 shares, compared to its average volume of 649,469. The business's 50-day moving average price is $2.91 and its two-hundred day moving average price is $4.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.29 and a current ratio of 4.97. Pulmonx Corporation has a fifty-two week low of $1.59 and a fifty-two week high of $9.37. The stock has a market cap of $64.82 million, a P/E ratio of -1.13 and a beta of 0.43.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.02. Pulmonx had a negative net margin of 62.88% and a negative return on equity of 66.36%. The firm had revenue of $23.86 million during the quarter, compared to analysts' expectations of $23.46 million. On average, sell-side analysts forecast that Pulmonx Corporation will post -1.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Pulmonx from $6.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday. Stifel Nicolaus lowered their price objective on shares of Pulmonx from $16.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday. Lake Street Capital decreased their target price on shares of Pulmonx from $12.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday. Wall Street Zen downgraded shares of Pulmonx from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Piper Sandler downgraded shares of Pulmonx from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $9.00 to $2.50 in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.66.

Insider Activity

In other Pulmonx news, CFO Mehul Joshi sold 8,061 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.13, for a total transaction of $25,230.93. Following the sale, the chief financial officer owned 213,925 shares of the company's stock, valued at $669,585.25. This represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Ferrari sold 8,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $3.16, for a total transaction of $25,280.00. Following the sale, the director directly owned 87,024 shares in the company, valued at approximately $274,995.84. This represents a 8.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,388 shares of company stock worth $136,044. 6.80% of the stock is currently owned by insiders.

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.