Pulmonx Co. (NASDAQ:LUNG – Get Rating) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,250,000 shares, a decline of 12.9% from the October 15th total of 3,730,000 shares. Based on an average daily volume of 476,200 shares, the days-to-cover ratio is currently 6.8 days. Approximately 10.1% of the shares of the company are sold short.
Analyst Ratings Changes
LUNG has been the subject of several analyst reports. Piper Sandler lowered their price objective on Pulmonx from $25.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Morgan Stanley cut their target price on Pulmonx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Pulmonx from $31.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.57.
Pulmonx Stock Down 8.6 %
LUNG stock opened at $5.52 on Thursday. The firm’s fifty day moving average is $14.45 and its 200 day moving average is $16.84. Pulmonx has a one year low of $4.07 and a one year high of $38.91. The firm has a market cap of $206.50 million, a PE ratio of -3.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.73 and a current ratio of 8.44.
Insider Buying and Selling
Hedge Funds Weigh In On Pulmonx
A number of institutional investors have recently bought and sold shares of LUNG. State Street Corp grew its holdings in Pulmonx by 2.9% during the 3rd quarter. State Street Corp now owns 842,851 shares of the company’s stock worth $14,042,000 after acquiring an additional 23,367 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of Pulmonx during the 3rd quarter worth about $836,000. Vanguard Group Inc. boosted its position in shares of Pulmonx by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,151,742 shares of the company’s stock worth $52,509,000 after acquiring an additional 18,232 shares during the last quarter. PFM Health Sciences LP acquired a new stake in shares of Pulmonx in the third quarter worth approximately $3,327,000. Finally, Prelude Capital Management LLC purchased a new position in Pulmonx in the third quarter valued at approximately $362,000. 94.22% of the stock is owned by hedge funds and other institutional investors.
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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