Renaissance Technologies LLC Raises Stock Holdings in Pulmonx Co. (NASDAQ:LUNG)

Renaissance Technologies LLC raised its holdings in shares of Pulmonx Co. (NASDAQ:LUNG - Free Report) by 38.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,510 shares of the company's stock after acquiring an additional 61,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.56% of Pulmonx worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Pulmonx by 1.3% in the third quarter. Geode Capital Management LLC now owns 892,786 shares of the company's stock worth $7,403,000 after buying an additional 11,151 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Pulmonx by 44.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,941 shares of the company's stock worth $570,000 after purchasing an additional 25,988 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Pulmonx by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock valued at $106,000 after purchasing an additional 3,310 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Pulmonx by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 1,055,522 shares of the company's stock valued at $8,750,000 after purchasing an additional 25,002 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Pulmonx by 1.8% in the third quarter. Barclays PLC now owns 94,109 shares of the company's stock worth $780,000 after purchasing an additional 1,679 shares during the last quarter. Institutional investors own 91.04% of the company's stock.

Insiders Place Their Bets

In related news, insider Geoffrey Beran Rose sold 5,779 shares of Pulmonx stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $7.13, for a total transaction of $41,204.27. Following the transaction, the insider now directly owns 285,278 shares of the company's stock, valued at $2,034,032.14. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mehul Joshi sold 14,384 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.12, for a total transaction of $102,414.08. Following the completion of the transaction, the chief financial officer now directly owns 113,986 shares of the company's stock, valued at $811,580.32. This trade represents a 11.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,660 shares of company stock worth $1,128,484 in the last ninety days. 6.80% of the stock is owned by company insiders.

Pulmonx Trading Up 0.9 %

Shares of NASDAQ:LUNG traded up $0.04 during trading hours on Friday, hitting $3.81. 679,007 shares of the company's stock traded hands, compared to its average volume of 319,629. Pulmonx Co. has a 1 year low of $3.61 and a 1 year high of $10.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. The firm has a market capitalization of $153.14 million, a P/E ratio of -2.64 and a beta of 0.61. The business has a fifty day moving average price of $6.53 and a 200-day moving average price of $6.55.

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

Analyst Ratings Changes

Several equities analysts have weighed in on LUNG shares. D. Boral Capital restated a "buy" rating and set a $17.00 price target on shares of Pulmonx in a report on Thursday. Citigroup initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They issued a "buy" rating for the company. Jefferies Financial Group began coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a "buy" rating on the stock. Canaccord Genuity Group dropped their price objective on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $9.00 price target (down previously from $10.00) on shares of Pulmonx in a report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.07.

About Pulmonx

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.