PDT Partners LLC Acquires 17,784 Shares of Pulmonx Co. (NASDAQ:LUNG)

PDT Partners LLC raised its stake in shares of Pulmonx Co. (NASDAQ:LUNG) by 25.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,074 shares of the company’s stock after buying an additional 17,784 shares during the period. PDT Partners LLC owned 0.22% of Pulmonx worth $730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Pulmonx by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock valued at $332,000 after acquiring an additional 1,633 shares in the last quarter. nVerses Capital LLC acquired a new position in Pulmonx during the third quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pulmonx in the second quarter valued at approximately $37,000. Victory Capital Management Inc. lifted its stake in shares of Pulmonx by 1.0% in the second quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock worth $5,289,000 after buying an additional 8,004 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Pulmonx by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock worth $19,262,000 after buying an additional 11,417 shares during the period. Institutional investors and hedge funds own 91.04% of the company’s stock.

Insider Buying and Selling

In related news, Director Glendon E. French III sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $6.52, for a total value of $130,400.00. Following the sale, the director now owns 1,091,974 shares of the company’s stock, valued at $7,119,670.48. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 60,000 shares of company stock valued at $424,800 over the last ninety days. 5.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their target price on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Pulmonx Trading Up 1.2 %

Shares of Pulmonx stock opened at $6.53 on Tuesday. The company’s fifty day simple moving average is $6.87 and its 200-day simple moving average is $7.03. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $14.84. 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 market cap of $257.86 million, a price-to-earnings ratio of -4.44 and a beta of 0.68.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. The firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $20.39 million. During the same period in the previous year, the company posted ($0.39) earnings per share. As a group, sell-side analysts expect that Pulmonx Co. will post -1.53 EPS 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.