Pulmonx Co. (NASDAQ:LUNG) Shares Bought by American International Group Inc.

American International Group Inc. raised its stake in Pulmonx Co. (NASDAQ:LUNG) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,655 shares of the company’s stock after buying an additional 1,148 shares during the quarter. American International Group Inc.’s holdings in Pulmonx were worth $231,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Swiss National Bank lifted its position in shares of Pulmonx by 8.9% during 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 shares of Pulmonx by 58.5% during the first quarter. MetLife Investment Management LLC now owns 15,791 shares of the company’s stock worth $392,000 after purchasing an additional 5,828 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Pulmonx by 6.4% during the first quarter. Rhumbline Advisers now owns 26,701 shares of the company’s stock worth $662,000 after purchasing an additional 1,617 shares in the last quarter. BlackRock Inc. lifted its position in shares of Pulmonx by 1.5% during the first quarter. BlackRock Inc. now owns 2,760,055 shares of the company’s stock worth $68,477,000 after purchasing an additional 41,724 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Pulmonx by 36.0% during the first quarter. Sei Investments Co. now owns 111,500 shares of the company’s stock worth $2,766,000 after purchasing an additional 29,500 shares in the last quarter. Institutional investors and hedge funds own 88.09% of the company’s stock.

Pulmonx Stock Performance

Shares of Pulmonx stock opened at $10.85 on Tuesday. The firm has a market capitalization of $415.64 million, a P/E ratio of -6.70 and a beta of 0.48. Pulmonx Co. has a 52 week low of $5.15 and a 52 week high of $14.27. The company has a quick ratio of 6.41, a current ratio of 7.19 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $9.60 and its two-hundred day moving average is $11.30.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Monday, October 30th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.06. The company had revenue of $17.67 million for the quarter, compared to analyst estimates of $16.67 million. Pulmonx had a negative net margin of 94.47% and a negative return on equity of 43.93%. The firm’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) earnings per share. Research analysts forecast that Pulmonx Co. will post -1.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LUNG shares. Piper Sandler reduced their price target on shares of Pulmonx from $17.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 31st. Canaccord Genuity Group reduced their price target on shares of Pulmonx from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Finally, Craig Hallum initiated coverage on shares of Pulmonx in a research note on Tuesday, September 5th. They set a “buy” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Pulmonx has a consensus rating of “Moderate Buy” and an average price target of $13.29.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, insider Geoffrey Beran Rose sold 2,843 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $10.01, for a total value of $28,458.43. Following the transaction, the insider now directly owns 253,021 shares in the company, valued at $2,532,740.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Derrick Sung sold 4,219 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $10.00, for a total transaction of $42,190.00. Following the transaction, the chief financial officer now directly owns 391,041 shares in the company, valued at $3,910,410. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey Beran Rose sold 2,843 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $10.01, for a total transaction of $28,458.43. Following the transaction, the insider now owns 253,021 shares in the company, valued at $2,532,740.21. The disclosure for this sale can be found here. Insiders have sold 20,913 shares of company stock worth $208,551 over the last three months. Insiders own 5.70% of the company’s stock.

Pulmonx Profile

Pulmonx Corporation, a commercial-stage 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 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.