Legato Capital Management LLC Buys Shares of 89,976 Pulmonx Corporation (NASDAQ:LUNG)

Legato Capital Management LLC purchased a new stake in Pulmonx Corporation (NASDAQ:LUNG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 89,976 shares of the company's stock, valued at approximately $606,000. Legato Capital Management LLC owned approximately 0.22% of Pulmonx as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Pulmonx by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company's stock worth $2,142,000 after purchasing an additional 2,363 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Pulmonx by 8.8% in the fourth quarter. American Century Companies Inc. now owns 34,738 shares of the company's stock worth $236,000 after acquiring an additional 2,810 shares during the last quarter. Norges Bank acquired a new stake in shares of Pulmonx in the fourth quarter worth approximately $1,027,000. Geode Capital Management LLC boosted its position in shares of Pulmonx by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 902,240 shares of the company's stock worth $6,128,000 after acquiring an additional 9,454 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Pulmonx by 510.1% in the fourth quarter. Trexquant Investment LP now owns 93,700 shares of the company's stock worth $636,000 after acquiring an additional 78,343 shares during the last quarter. Hedge funds and other institutional investors own 91.04% of the company's stock.

Insiders Place Their Bets

In other Pulmonx news, CEO Steven S. Williamson sold 9,923 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total transaction of $31,058.99. Following the completion of the transaction, the chief executive officer directly owned 366,115 shares in the company, valued at $1,145,939.95. This represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel David Aaron Lehman sold 10,457 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $32,730.41. Following the transaction, the general counsel owned 273,039 shares of the company's stock, valued at $854,612.07. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,388 shares of company stock valued at $136,044 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Pulmonx Trading Up 1.2%

NASDAQ LUNG traded up $0.04 on Monday, hitting $3.38. 53,827 shares of the company were exchanged, compared to its average volume of 360,240. The company's 50 day moving average price is $2.98 and its 200-day moving average price is $5.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.97 and a quick ratio of 4.29. The firm has a market capitalization of $136.08 million, a P/E ratio of -2.31 and a beta of 0.45. Pulmonx Corporation has a twelve month low of $2.50 and a twelve month high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.01. The business had revenue of $22.54 million during the quarter, compared to analysts' expectations of $22.03 million. Pulmonx had a negative return on equity of 63.69% and a negative net margin of 65.27%. Analysts predict that Pulmonx Corporation will post -1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LUNG has been the topic of several research analyst reports. Piper Sandler reissued an "overweight" rating and issued a $9.00 target price (down from $10.00) on shares of Pulmonx in a research report on Thursday, May 1st. Citigroup reduced their price target on shares of Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Canaccord Genuity Group reduced their price target on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, D. Boral Capital reiterated a "buy" rating and set a $17.00 price objective on shares of Pulmonx in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.53.

Pulmonx Company 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.