Legato Capital Management LLC Invests $606,000 in Pulmonx Corporation (NASDAQ:LUNG)

Legato Capital Management LLC bought a new position in Pulmonx Corporation (NASDAQ:LUNG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 89,976 shares of the company's stock, valued at approximately $606,000. Legato Capital Management LLC owned about 0.22% of Pulmonx at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Pulmonx by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company's stock valued at $2,142,000 after purchasing an additional 2,363 shares in the last quarter. American Century Companies Inc. boosted its stake in Pulmonx by 8.8% during the fourth quarter. American Century Companies Inc. now owns 34,738 shares of the company's stock valued at $236,000 after buying an additional 2,810 shares during the period. Norges Bank bought a new stake in Pulmonx during the fourth quarter valued at $1,027,000. Geode Capital Management LLC boosted its stake in Pulmonx by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 902,240 shares of the company's stock valued at $6,128,000 after buying an additional 9,454 shares during the period. Finally, Trexquant Investment LP boosted its stake in Pulmonx by 510.1% during the fourth quarter. Trexquant Investment LP now owns 93,700 shares of the company's stock valued at $636,000 after buying an additional 78,343 shares during the period. 91.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pulmonx

In other Pulmonx news, Director Daniel P. Florin purchased 23,321 shares of Pulmonx stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average price of $3.06 per share, for a total transaction of $71,362.26. Following the acquisition, the director directly owned 117,231 shares in the company, valued at approximately $358,726.86. This trade represents a 24.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David Aaron Lehman sold 10,457 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were 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 in the company, valued at approximately $854,612.07. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,388 shares of company stock worth $136,044 over the last 90 days. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LUNG. Piper Sandler reissued an "overweight" rating and set a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. D. Boral Capital reissued a "buy" rating and set a $17.00 price objective on shares of Pulmonx in a research note on Thursday, May 1st. Canaccord Genuity Group dropped their price target on Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup dropped their price target on Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.53.

Pulmonx Trading Up 0.6%

Shares of LUNG traded up $0.02 during trading hours on Friday, hitting $3.34. The company had a trading volume of 254,372 shares, compared to its average volume of 407,237. The firm has a market cap of $134.47 million, a P/E ratio of -2.32 and a beta of 0.45. The stock's 50 day moving average price is $2.98 and its 200 day moving average price is $5.10. The company has a quick ratio of 4.29, a current ratio of 4.97 and a debt-to-equity ratio of 0.38. Pulmonx Corporation has a 52-week low of $2.50 and a 52-week high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. The firm had revenue of $22.54 million for the quarter, compared to the consensus estimate of $22.03 million. Pulmonx had a negative return on equity of 63.69% and a negative net margin of 65.27%. On average, research analysts predict that Pulmonx Corporation 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.