ProShare Advisors LLC Buys New Shares in Pulmonx Co. (NASDAQ:LUNG)

ProShare Advisors LLC bought a new stake in shares of Pulmonx Co. (NASDAQ:LUNG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,669 shares of the company’s stock, valued at approximately $72,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LUNG. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Pulmonx by 44.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,941 shares of the company’s stock worth $570,000 after acquiring an additional 25,988 shares during the last quarter. SG Americas Securities LLC grew its holdings in Pulmonx by 27.0% in the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock worth $106,000 after acquiring an additional 3,310 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Pulmonx by 38.7% in the 4th quarter. Renaissance Technologies LLC now owns 220,510 shares of the company’s stock worth $1,497,000 after acquiring an additional 61,500 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Pulmonx by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 408,022 shares of the company’s stock worth $2,770,000 after acquiring an additional 60,489 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Pulmonx in the 4th quarter worth $146,000. Institutional investors own 91.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. 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. Canaccord Genuity Group cut 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. Jefferies Financial Group assumed coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating on the stock. Morgan Stanley assumed coverage on shares of Pulmonx in a research report on Monday, March 10th. They set an “equal weight” rating for the company. Finally, Citigroup lowered their price target on shares of Pulmonx from $6.50 to $4.15 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.59.

Insider Activity

In related news, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $7.85, for a total transaction of $157,000.00. Following the sale, the director now directly owns 991,974 shares in the company, valued at $7,786,995.90. This trade represents a 1.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.80% of the company’s stock.

Pulmonx Stock Performance

Shares of NASDAQ LUNG opened at $3.18 on Wednesday. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $4.49 and a two-hundred day simple moving average of $6.01. Pulmonx Co. has a 12 month low of $2.83 and a 12 month high of $9.37. The stock has a market cap of $128.02 million, a price-to-earnings ratio of -2.21 and a beta of 0.65.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. The company had revenue of $22.54 million during the quarter, compared to analysts’ expectations of $22.03 million. As a group, analysts predict that Pulmonx Co. will post -1.55 earnings per share for the current year.

About Pulmonx

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.