Jacobs Levy Equity Management Inc. Cuts Stock Position in Pulmonx Co. (NASDAQ:LUNG)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Pulmonx Co. (NASDAQ:LUNG - Free Report) by 72.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,370 shares of the company's stock after selling 217,991 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.21% of Pulmonx worth $566,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LUNG. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Pulmonx by 44.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,941 shares of the company's stock worth $570,000 after buying an additional 25,988 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Pulmonx by 27.0% in the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock worth $106,000 after buying an additional 3,310 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Pulmonx by 38.7% in the fourth quarter. Renaissance Technologies LLC now owns 220,510 shares of the company's stock worth $1,497,000 after buying an additional 61,500 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 buying an additional 2,810 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Pulmonx in the fourth quarter worth approximately $146,000. Hedge funds and other institutional investors own 91.04% of the company's stock.

Insider Activity

In related news, CEO Steven S. Williamson sold 27,689 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $7.14, for a total value of $197,699.46. Following the completion of the transaction, the chief executive officer now directly owns 194,342 shares of the company's stock, valued at approximately $1,387,601.88. This trade represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Aaron Lehman sold 22,355 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $7.65, for a total transaction of $171,015.75. Following the completion of the transaction, the general counsel now directly owns 175,496 shares of the company's stock, valued at approximately $1,342,544.40. This trade represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,207 shares of company stock worth $669,334 over the last quarter. Insiders own 6.80% of the company's stock.

Pulmonx Price Performance

Shares of Pulmonx stock traded down $0.01 on Friday, hitting $3.11. 228,443 shares of the company traded hands, compared to its average volume of 314,882. The stock has a market capitalization of $125.20 million, a P/E ratio of -2.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. Pulmonx Co. has a 52 week low of $2.97 and a 52 week high of $9.37. The business has a 50-day simple moving average of $5.07 and a 200 day simple moving average of $6.21.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. The firm had revenue of $22.54 million for the quarter, compared to analysts' expectations of $22.03 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. Research analysts expect that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUNG has been the topic of a number of recent analyst reports. Citigroup decreased their target price on shares of Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research note on Thursday. D. Boral Capital restated a "buy" rating and set a $17.00 target price on shares of Pulmonx in a research note on Thursday, May 1st. Canaccord Genuity Group decreased their target price on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group initiated coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a "buy" rating on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $9.00 target price (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.59.

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.