60,246 Shares in Pulmonx Co. (NASDAQ:LUNG) Acquired by Sofinnova Investments Inc.

Sofinnova Investments Inc. purchased a new stake in Pulmonx Co. (NASDAQ:LUNG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,246 shares of the company’s stock, valued at approximately $382,000. Sofinnova Investments Inc. owned approximately 0.16% of Pulmonx as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Primecap Management Co. CA boosted its position in shares of Pulmonx by 2.2% in the 4th quarter. Primecap Management Co. CA now owns 5,646,451 shares of the company’s stock valued at $71,992,000 after purchasing an additional 124,050 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Pulmonx by 7.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,059,018 shares of the company’s stock worth $6,714,000 after purchasing an additional 69,595 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Pulmonx by 88.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 85,672 shares of the company’s stock valued at $1,092,000 after purchasing an additional 40,292 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Pulmonx by 13.1% in the second quarter. Renaissance Technologies LLC now owns 301,410 shares of the company’s stock valued at $1,911,000 after purchasing an additional 34,800 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB acquired a new stake in shares of Pulmonx in the fourth quarter worth $319,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

Insider Buying and Selling

In other Pulmonx news, General Counsel David Aaron Lehman sold 5,765 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.69, for a total transaction of $38,567.85. Following the completion of the sale, the general counsel now directly owns 203,348 shares in the company, valued at $1,360,398.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel David Aaron Lehman sold 5,765 shares of Pulmonx stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $6.69, for a total value of $38,567.85. Following the transaction, the general counsel now directly owns 203,348 shares in the company, valued at $1,360,398.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geoffrey Beran Rose sold 4,586 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.70, for a total value of $30,726.20. Following the sale, the insider now owns 295,433 shares of the company’s stock, valued at approximately $1,979,401.10. The disclosure for this sale can be found here. Insiders have sold 11,535 shares of company stock worth $76,587 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LUNG shares. Lake Street Capital initiated coverage on Pulmonx in a research report on Tuesday, June 4th. They set a “buy” rating and a $12.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group upped their price target on shares of Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Pulmonx Price Performance

NASDAQ LUNG opened at $8.15 on Tuesday. The company has a 50 day moving average price of $7.10 and a two-hundred day moving average price of $7.62. Pulmonx Co. has a 12-month low of $5.46 and a 12-month high of $14.84. The stock has a market capitalization of $316.35 million, a PE ratio of -5.29 and a beta of 0.63. The company has a quick ratio of 7.92, a current ratio of 8.97 and a debt-to-equity ratio of 0.37.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. Pulmonx had a negative return on equity of 50.79% and a negative net margin of 75.56%. The business had revenue of $20.78 million for the quarter, compared to the consensus estimate of $20.23 million. As a group, equities analysts predict that Pulmonx Co. will post -1.64 earnings per share for the current fiscal year.

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.