Renaissance Technologies LLC Acquires 61,500 Shares of Pulmonx Co. (NASDAQ:LUNG)

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

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings 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 during the period. Geode Capital Management LLC grew its position in Pulmonx by 1.1% in the 4th 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 in the last quarter. Franklin Resources Inc. increased its stake in Pulmonx by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 700,389 shares of the company's stock valued at $5,806,000 after buying an additional 15,570 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 2,363 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Pulmonx in the 4th quarter worth approximately $1,027,000. Institutional investors own 91.04% of the company's stock.

Pulmonx Stock Performance

LUNG stock remained flat at $3.77 during mid-day trading on Friday. 902,554 shares of the company's stock were exchanged, compared to its average volume of 312,901. Pulmonx Co. has a 52 week low of $3.61 and a 52 week high of $10.01. The stock has a 50-day moving average of $6.43 and a two-hundred day moving average of $6.53. The stock has a market capitalization of $151.73 million, a P/E ratio of -2.62 and a beta of 0.61. 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 (NASDAQ:LUNG - Get Free Report) last issued 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. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. The business had revenue of $22.54 million during the quarter, compared to the consensus estimate of $22.03 million. Equities research analysts expect that Pulmonx Co. will post -1.55 earnings per share for the current year.

Insider Activity

In related news, CEO Steven S. Williamson sold 27,689 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $7.14, for a total transaction of $197,699.46. Following the completion of the sale, the chief executive officer now directly owns 194,342 shares in the company, 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 the SEC website. Also, Director Glendon E. French III sold 55,453 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.28, for a total transaction of $459,150.84. Following the transaction, the director now directly owns 1,011,974 shares in the company, valued at $8,379,144.72. The trade was a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,660 shares of company stock worth $1,128,484. 6.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LUNG shares. Morgan Stanley started coverage on Pulmonx in a report on Monday, March 10th. They set an "equal weight" rating on the stock. Citigroup initiated coverage on Pulmonx in a research note on Monday, March 10th. They issued a "buy" rating on the stock. Canaccord Genuity Group decreased their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday. Jefferies Financial Group initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They issued a "buy" rating for the company. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Pulmonx in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.07.

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.