Nuveen LLC Takes Position in Pulmonx Corporation $LUNG

Key Points

• Nuveen LLC acquired 198,523 shares of Pulmonx Corporation, a move that reflects increasing institutional interest, with 91.04% of the stock now owned by institutional investors.
• Pulmonx reported a quarterly earnings beat with revenue surpassing expectations, yet continues to face a negative return on equity of 69.76% and a net margin of 62.88%.
• Stock analysts have downgraded Pulmonx's ratings and price targets recently, with Piper Sandler reducing the price target from $9.00 to $2.50, indicating a more bearish outlook on the company.

Nuveen LLC bought a new stake in Pulmonx Corporation (NASDAQ:LUNG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 198,523 shares of the company's stock, valued at approximately $1,336,000. Nuveen LLC owned approximately 0.49% of Pulmonx at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC bought a new stake in Pulmonx in the 4th quarter valued at about $72,000. Vontobel Holding Ltd. purchased a new position in Pulmonx in the first quarter worth $82,000. Millennium Management LLC lifted its stake in Pulmonx by 26.6% in the fourth quarter. Millennium Management LLC now owns 183,069 shares of the company's stock valued at $1,243,000 after purchasing an additional 38,425 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pulmonx by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 408,022 shares of the company's stock worth $2,770,000 after acquiring an additional 60,489 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Pulmonx during the fourth quarter worth $81,000. 91.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LUNG shares. Piper Sandler downgraded Pulmonx from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $9.00 to $2.50 in a research report on Thursday, July 31st. Citigroup cut their price objective on Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wells Fargo & Company decreased their price objective on shares of Pulmonx from $6.00 to $3.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Stifel Nicolaus decreased their target price on shares of Pulmonx from $16.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Lake Street Capital cut their price objective on shares of Pulmonx from $12.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Pulmonx presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.66.

Insider Transactions at Pulmonx

In other Pulmonx news, Director Richard Ferrari sold 8,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $3.16, for a total value of $25,280.00. Following the sale, the director directly owned 87,024 shares of the company's stock, valued at approximately $274,995.84. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have sold 41,896 shares of company stock worth $79,514. 6.80% of the stock is owned by corporate insiders.

Pulmonx Stock Performance

Shares of Pulmonx stock remained flat at $1.74 during trading on Friday. 304,193 shares of the company traded hands, compared to its average volume of 678,038. The company has a quick ratio of 4.63, a current ratio of 5.35 and a debt-to-equity ratio of 0.54. The firm's 50-day simple moving average is $2.25 and its 200-day simple moving average is $4.15. Pulmonx Corporation has a 12-month low of $1.47 and a 12-month high of $9.37. The company has a market cap of $70.91 million, a PE ratio of -1.22 and a beta of 0.43.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.02. Pulmonx had a negative net margin of 62.88% and a negative return on equity of 69.76%. The business had revenue of $23.86 million during the quarter, compared to the consensus estimate of $23.46 million. Pulmonx has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Pulmonx Corporation will post -1.55 earnings per share for the current fiscal 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.