Bank of America Corp DE Grows Stock Position in Pulmonx Co. (NASDAQ:LUNG)

Bank of America Corp DE grew its position in Pulmonx Co. (NASDAQ:LUNG) by 58.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,237 shares of the company’s stock after acquiring an additional 20,458 shares during the quarter. Bank of America Corp DE owned about 0.14% of Pulmonx worth $375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Pulmonx in the fourth quarter valued at approximately $43,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Pulmonx in the fourth quarter valued at approximately $557,000. Northern Trust Corp increased its holdings in shares of Pulmonx by 2.9% in the fourth quarter. Northern Trust Corp now owns 372,659 shares of the company’s stock valued at $2,530,000 after purchasing an additional 10,433 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Pulmonx by 9.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 149,102 shares of the company’s stock valued at $1,012,000 after purchasing an additional 12,282 shares during the last quarter. Finally, Birchview Capital LP acquired a new stake in shares of Pulmonx in the fourth quarter valued at approximately $346,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LUNG shares. Canaccord Genuity Group cut their price target on Pulmonx from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $9.00 price target (down previously from $10.00) on shares of Pulmonx in a report on Thursday, May 1st. D. Boral Capital reaffirmed a “buy” rating and issued a $17.00 price target on shares of Pulmonx in a report on Thursday, May 1st. Jefferies Financial Group started coverage on Pulmonx in a report on Monday, March 10th. They issued a “buy” rating for the company. Finally, Morgan Stanley initiated coverage on Pulmonx in a report on Monday, March 10th. They issued an “equal weight” rating for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Pulmonx presently has an average rating of “Moderate Buy” and a consensus price target of $11.53.

Insider Activity

In other news, CFO Mehul Joshi sold 8,061 shares of Pulmonx stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $25,230.93. Following the completion of the sale, the chief financial officer now directly owns 213,925 shares of the company’s stock, valued at approximately $669,585.25. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel P. Florin acquired 23,321 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was purchased at an average cost of $3.06 per share, with a total value of $71,362.26. Following the completion of the purchase, the director now directly owns 117,231 shares of the company’s stock, valued at approximately $358,726.86. This represents a 24.83% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 55,388 shares of company stock valued at $267,764. 6.80% of the stock is currently owned by corporate insiders.

Pulmonx Price Performance

LUNG stock opened at $3.14 on Friday. The business has a fifty day moving average of $3.99 and a two-hundred day moving average of $5.86. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The stock has a market cap of $126.41 million, a price-to-earnings ratio of -2.18 and a beta of 0.52. Pulmonx Co. has a 52-week low of $2.83 and a 52-week high of $9.37.

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

Pulmonx Company 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.