Rock Springs Capital Management LP Grows Stake in Pulmonx Co. (NASDAQ:LUNG)

Rock Springs Capital Management LP lifted its holdings in Pulmonx Co. (NASDAQ:LUNG - Free Report) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 772,151 shares of the company's stock after buying an additional 80,851 shares during the quarter. Rock Springs Capital Management LP owned approximately 1.96% of Pulmonx worth $5,243,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LUNG. JPMorgan Chase & Co. grew its stake in shares of Pulmonx by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,055,522 shares of the company's stock worth $8,750,000 after buying an additional 25,002 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 last quarter. Altium Capital Management LLC increased its position in shares of Pulmonx by 63.0% during the fourth quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock valued at $5,534,000 after acquiring an additional 315,000 shares in the last quarter. State Street Corp raised its holdings in Pulmonx by 2.6% in the 3rd quarter. State Street Corp now owns 747,028 shares of the company's stock worth $6,193,000 after acquiring an additional 18,592 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Pulmonx by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 700,389 shares of the company's stock valued at $5,806,000 after acquiring an additional 15,570 shares in the last quarter. 91.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley started coverage on Pulmonx in a research note on Monday, March 10th. They issued an "equal weight" rating for the company. D. Boral Capital began coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a "buy" rating and a $17.00 target price on the stock. Jefferies Financial Group began coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued a "buy" rating for the company. Finally, Citigroup initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They set a "buy" rating for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.75.

Pulmonx Stock Performance

Shares of LUNG traded up $0.03 on Friday, reaching $5.20. The company's stock had a trading volume of 239,817 shares, compared to its average volume of 317,519. The stock has a market capitalization of $209.28 million, a P/E ratio of -3.61 and a beta of 0.61. 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 stock's 50 day simple moving average is $6.81 and its two-hundred day simple moving average is $6.60. Pulmonx Co. has a 12-month low of $4.15 and a 12-month high of $10.01.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.12. The business had revenue of $23.77 million for the quarter, compared to the consensus estimate of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. Research analysts forecast that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

Insider Activity at Pulmonx

In other Pulmonx news, Director Glendon E. French III sold 55,453 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.28, for a total transaction of $459,150.84. Following the completion of the transaction, the director now owns 1,011,974 shares of the company's stock, valued at $8,379,144.72. This represents a 5.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geoffrey Beran Rose sold 5,779 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $7.13, for a total value of $41,204.27. Following the transaction, the insider now owns 285,278 shares of the company's stock, valued at $2,034,032.14. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,660 shares of company stock valued at $1,128,484. 6.80% of the stock is owned by company insiders.

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.