Franklin Resources Inc. Reduces Stock Holdings in Pulmonx Co. (NASDAQ:LUNG)

Franklin Resources Inc. lessened its holdings in shares of Pulmonx Co. (NASDAQ:LUNG) by 17.7% in the 4th quarter, HoldingsChannel reports. The firm owned 576,273 shares of the company’s stock after selling 124,116 shares during the quarter. Franklin Resources Inc.’s holdings in Pulmonx were worth $3,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Pulmonx during the 4th quarter worth about $46,000. 272 Capital LP purchased a new stake in Pulmonx in the 3rd quarter worth approximately $48,000. SG Americas Securities LLC grew its stake in shares of Pulmonx by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock worth $106,000 after purchasing an additional 3,310 shares during the period. American Century Companies Inc. boosted its holdings in Pulmonx by 8.8% during the fourth quarter. American Century Companies Inc. now owns 34,738 shares of the company’s stock worth $236,000 after buying an additional 2,810 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Pulmonx by 4.9% in the fourth quarter. Rhumbline Advisers now owns 53,503 shares of the company’s stock valued at $363,000 after purchasing an additional 2,488 shares during the period. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Pulmonx Price Performance

NASDAQ:LUNG opened at $5.25 on Friday. Pulmonx Co. has a 52 week low of $4.89 and a 52 week high of $10.01. The stock’s fifty day moving average is $7.20 and its two-hundred day moving average is $6.78. The company has a market capitalization of $208.93 million, a P/E ratio of -3.65 and a beta of 0.61. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.12. The firm had revenue of $23.77 million for the quarter, compared to analyst estimates of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. Equities analysts expect that Pulmonx Co. will post -1.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LUNG shares. D. Boral Capital started coverage on Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating and a $17.00 price target on the stock. Citigroup started coverage on Pulmonx in a report on Monday, March 10th. They issued a “buy” rating for the company. Jefferies Financial Group began coverage on Pulmonx in a report on Monday, March 10th. They set a “buy” rating on the stock. Finally, Morgan Stanley initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They issued an “equal weight” rating for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Insider Transactions at Pulmonx

In other news, CEO Steven S. Williamson sold 27,689 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.14, for a total transaction of $197,699.46. Following the completion of the transaction, the chief executive officer now directly owns 194,342 shares in the company, valued at $1,387,601.88. This trade represents a 12.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glendon E. French III sold 55,453 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.28, for a total value of $459,150.84. Following the completion of the sale, the director now owns 1,011,974 shares in the company, valued at $8,379,144.72. This represents a 5.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,986 shares of company stock worth $1,143,673. 5.70% of the stock is currently owned by insiders.

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.