Cubist Systematic Strategies LLC cut its stake in shares of Pulmonx Co. (NASDAQ:LUNG – Get Rating) by 74.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,201 shares of the company’s stock after selling 95,130 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Pulmonx were worth $536,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Lido Advisors LLC grew its holdings in shares of Pulmonx by 5.4% during the first quarter. Lido Advisors LLC now owns 27,908 shares of the company’s stock valued at $692,000 after purchasing an additional 1,421 shares during the last quarter. Credit Suisse AG grew its holdings in shares of Pulmonx by 9.2% during the second quarter. Credit Suisse AG now owns 17,122 shares of the company’s stock valued at $252,000 after purchasing an additional 1,445 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Pulmonx during the first quarter valued at approximately $40,000. Rhumbline Advisers grew its holdings in shares of Pulmonx by 6.4% during the first quarter. Rhumbline Advisers now owns 26,701 shares of the company’s stock valued at $662,000 after purchasing an additional 1,617 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Pulmonx by 12.0% during the third quarter. MetLife Investment Management LLC now owns 20,227 shares of the company’s stock valued at $337,000 after purchasing an additional 2,164 shares during the last quarter. 92.68% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
LUNG has been the subject of several recent research reports. Morgan Stanley upped their target price on Pulmonx from $9.50 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, February 23rd. Citigroup increased their price objective on Pulmonx from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Bank of America downgraded shares of Pulmonx from a “neutral” rating to an “underperform” rating and set a $8.00 target price on the stock. in a research note on Tuesday, January 3rd. Wells Fargo & Company raised shares of Pulmonx from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $15.00 in a research note on Monday, February 27th. Finally, Canaccord Genuity Group increased their target price on shares of Pulmonx from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.38.
Pulmonx Trading Down 5.8 %
Pulmonx (NASDAQ:LUNG – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.03. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $13.98 million. Pulmonx had a negative net margin of 109.80% and a negative return on equity of 35.08%. Pulmonx’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) EPS. As a group, research analysts anticipate that Pulmonx Co. will post -1.75 EPS for the current fiscal year.
Insider Buying and Selling at Pulmonx
In related news, CEO Glendon E. French III sold 2,895 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $11.03, for a total transaction of $31,931.85. Following the transaction, the chief executive officer now directly owns 1,032,580 shares of the company’s stock, valued at $11,389,357.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 5,365 shares of company stock worth $59,176. 8.50% of the stock is currently owned by company insiders.
Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult 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.
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