167,725 Shares in Pulmonx Co. (NASDAQ:LUNG) Acquired by Millrace Asset Group Inc.

Millrace Asset Group Inc. acquired a new position in shares of Pulmonx Co. (NASDAQ:LUNG) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 167,725 shares of the company’s stock, valued at approximately $1,390,000.

A number of other institutional investors also recently bought and sold shares of LUNG. nVerses Capital LLC purchased a new position in shares of Pulmonx in the third quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pulmonx in the 2nd quarter valued at about $37,000. Hsbc Holdings PLC purchased a new position in Pulmonx during the 2nd quarter valued at about $93,000. Mackenzie Financial Corp acquired a new position in Pulmonx during the second quarter worth about $102,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Pulmonx in the third quarter valued at about $102,000. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LUNG shares. Wells Fargo & Company dropped their price objective on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group upped their price objective on Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Insider Transactions at Pulmonx

In other Pulmonx news, insider Geoffrey Beran Rose sold 4,586 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $6.70, for a total transaction of $30,726.20. Following the completion of the sale, the insider now owns 295,433 shares of the company’s stock, valued at approximately $1,979,401.10. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glendon E. French III sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $8.09, for a total value of $161,800.00. Following the completion of the transaction, the director now owns 1,111,974 shares in the company, valued at approximately $8,995,869.66. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,351 shares of company stock worth $361,494 in the last three months. Company insiders own 5.70% of the company’s stock.

Pulmonx Stock Down 2.7 %

LUNG stock opened at $6.61 on Tuesday. Pulmonx Co. has a one year low of $5.46 and a one year high of $14.84. The stock has a market capitalization of $261.03 million, a P/E ratio of -4.50 and a beta of 0.68. The company has a 50 day moving average price of $7.04 and a two-hundred day moving average price of $7.09. 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) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. The business had revenue of $20.39 million during the quarter, compared to the consensus estimate of $20.39 million. During the same quarter in the previous year, the business earned ($0.39) earnings per share. As a group, sell-side analysts expect that Pulmonx Co. will post -1.53 EPS for the current year.

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.