Graham Capital Management L.P. Purchases 7,641 Shares of Pulmonx Co. (NASDAQ:LUNG)

Graham Capital Management L.P. boosted its position in Pulmonx Co. (NASDAQ:LUNG) by 73.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,071 shares of the company’s stock after buying an additional 7,641 shares during the quarter. Graham Capital Management L.P.’s holdings in Pulmonx were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C bought a new position in Pulmonx in the fourth quarter valued at approximately $10,421,000. Geode Capital Management LLC increased its stake in Pulmonx by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 902,240 shares of the company’s stock valued at $6,128,000 after acquiring an additional 9,454 shares during the last quarter. Altium Capital Management LLC increased its stake in Pulmonx by 63.0% in 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 during the last quarter. Rock Springs Capital Management LP increased its stake in Pulmonx by 11.7% in the fourth quarter. Rock Springs Capital Management LP now owns 772,151 shares of the company’s stock valued at $5,243,000 after acquiring an additional 80,851 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Pulmonx by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 408,022 shares of the company’s stock valued at $2,770,000 after acquiring an additional 60,489 shares during the last quarter. 91.04% of the stock is owned by institutional investors.

Insider Activity at Pulmonx

In other news, insider Geoffrey Beran Rose sold 5,779 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.13, for a total transaction of $41,204.27. Following the transaction, the insider now owns 285,278 shares in the company, valued at approximately $2,034,032.14. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glendon E. French III sold 55,453 shares of the company’s 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 transaction, the director now owns 1,011,974 shares in the company, valued at $8,379,144.72. This represents a 5.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 145,660 shares of company stock worth $1,128,484 over the last quarter. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LUNG shares. Jefferies Financial Group started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating on the stock. Canaccord Genuity Group decreased their target price on shares of Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. D. Boral Capital reaffirmed a “buy” rating and set a $17.00 target price on shares of Pulmonx in a research note on Thursday, May 1st. Morgan Stanley started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set an “equal weight” rating on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Pulmonx presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.07.

Pulmonx Price Performance

LUNG stock opened at $3.34 on Tuesday. The firm has a market cap of $134.46 million, a price-to-earnings ratio of -2.32 and a beta of 0.65. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. Pulmonx Co. has a 12-month low of $3.18 and a 12-month high of $9.37. The company’s fifty day simple moving average is $5.43 and its 200 day simple moving average is $6.31.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. The business had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.03 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. On average, analysts expect that Pulmonx Co. will post -1.55 earnings per share 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.