Primecap Management Co. CA Acquires Shares of 4,612,331 Pulmonx Corporation $LUNG

Primecap Management Co. CA acquired a new position in shares of Pulmonx Corporation (NASDAQ:LUNG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,612,331 shares of the company’s stock, valued at approximately $5,996,000. Primecap Management Co. CA owned 0.11% of Pulmonx at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Pulmonx in the first quarter valued at about $26,000. Cerity Partners LLC acquired a new stake in Pulmonx in the 4th quarter worth about $27,000. Opal Capital LLC acquired a new stake in Pulmonx in the 4th quarter worth about $29,000. Jain Global LLC bought a new stake in Pulmonx in the 3rd quarter valued at about $30,000. Finally, Sei Investments Co. acquired a new position in shares of Pulmonx during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LUNG. Wall Street Zen upgraded shares of Pulmonx from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. D. Boral Capital reiterated a “buy” rating and set a $14.00 target price on shares of Pulmonx in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.67.

Pulmonx Price Performance

Shares of LUNG opened at $2.50 on Thursday. Pulmonx Corporation has a one year low of $1.13 and a one year high of $2.89. The company has a market cap of $107.38 million, a P/E ratio of -2.16 and a beta of 0.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.32 and a quick ratio of 3.52. The firm has a 50 day simple moving average of $1.68 and a two-hundred day simple moving average of $1.53.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, July 29th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. The firm had revenue of $22.76 million during the quarter, compared to analysts’ expectations of $22.39 million. Pulmonx had a negative return on equity of 96.66% and a negative net margin of 55.03%. Research analysts forecast that Pulmonx Corporation will post -1.05 EPS for the current fiscal year.

Pulmonx Company Profile

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.