Prelude Capital Management LLC Buys New Position in Pulmonx Co. (NASDAQ:LUNG)

Prelude Capital Management LLC purchased a new position in shares of Pulmonx Co. (NASDAQ:LUNG – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,704 shares of the company’s stock, valued at approximately $362,000.

Several other hedge funds also recently made changes to their positions in LUNG. Swiss National Bank lifted its position in shares of Pulmonx by 8.9% in the first quarter. Swiss National Bank now owns 47,900 shares of the company’s stock worth $1,188,000 after purchasing an additional 3,900 shares in the last quarter. MetLife Investment Management LLC lifted its position in Pulmonx by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 15,791 shares of the company’s stock worth $392,000 after buying an additional 5,828 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Pulmonx by 6.4% during the 1st quarter. Rhumbline Advisers now owns 26,701 shares of the company’s stock worth $662,000 after buying an additional 1,617 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Pulmonx by 1.5% in the 1st quarter. BlackRock Inc. now owns 2,760,055 shares of the company’s stock valued at $68,477,000 after acquiring an additional 41,724 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Pulmonx by 36.0% in the first quarter. Sei Investments Co. now owns 111,500 shares of the company’s stock valued at $2,766,000 after acquiring an additional 29,500 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup increased their price target 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 cut shares of Pulmonx from a “neutral” rating to an “underperform” rating and set a $8.00 target price for the company. in a research note on Tuesday, January 3rd. Morgan Stanley upped their price target on shares of Pulmonx from $9.50 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. Canaccord Genuity Group lifted their price objective on shares of Pulmonx from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Finally, Wells Fargo & Company raised shares of Pulmonx from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $10.00 to $15.00 in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.38.

Pulmonx Price Performance

NASDAQ:LUNG opened at $11.17 on Tuesday. The company has a market cap of $420.55 million, a P/E ratio of -7.03 and a beta of 0.32. The firm’s fifty day moving average price is $9.42 and its two-hundred day moving average price is $11.04. Pulmonx Co. has a one year low of $4.07 and a one year high of $28.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 9.14 and a quick ratio of 8.35.

Pulmonx (NASDAQ:LUNG – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. The business had revenue of $15.40 million during the quarter, compared to the consensus estimate of $13.98 million. Pulmonx had a negative net margin of 109.80% and a negative return on equity of 35.08%. Pulmonx’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) EPS. Equities analysts expect that Pulmonx Co. will post -1.75 earnings per share for the current year.

Insider Transactions at Pulmonx

In related news, CEO Glendon E. French III sold 2,895 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 5,365 shares of company stock worth $59,176. Company insiders own 8.50% of the company’s stock.

Pulmonx Profile

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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.