Altium Capital Management LLC Has $5.53 Million Stock Position in Pulmonx Co. (NASDAQ:LUNG)

Altium Capital Management LLC grew its position in shares of Pulmonx Co. (NASDAQ:LUNG) by 63.0% in the 4th quarter, Holdings Channel reports. The firm owned 815,000 shares of the company’s stock after acquiring an additional 315,000 shares during the quarter. Pulmonx accounts for about 1.6% of Altium Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Altium Capital Management LLC’s holdings in Pulmonx were worth $5,534,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Pulmonx during the fourth quarter worth approximately $1,027,000. Trexquant Investment LP raised its position in Pulmonx by 510.1% in the 4th quarter. Trexquant Investment LP now owns 93,700 shares of the company’s stock valued at $636,000 after buying an additional 78,343 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Pulmonx by 38.7% in the fourth quarter. Renaissance Technologies LLC now owns 220,510 shares of the company’s stock valued at $1,497,000 after purchasing an additional 61,500 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Pulmonx during the 4th quarter worth approximately $192,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Pulmonx by 44.8% during the fourth 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 period. Institutional investors and hedge funds own 91.04% of the company’s stock.

Insider Transactions at Pulmonx

In related news, CFO Mehul Joshi sold 14,384 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.12, for a total value of $102,414.08. Following the completion of the sale, the chief financial officer now owns 113,986 shares of the company’s stock, valued at $811,580.32. This trade represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel David Aaron Lehman sold 22,355 shares of Pulmonx stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.65, for a total transaction of $171,015.75. Following the sale, the general counsel now directly owns 175,496 shares in the company, valued at $1,342,544.40. The trade was a 11.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,660 shares of company stock worth $1,128,484. Insiders own 5.70% of the company’s stock.

Pulmonx Trading Down 5.6 %

Shares of LUNG stock opened at $4.52 on Friday. The business has a 50-day moving average price of $7.07 and a two-hundred day moving average price of $6.70. The firm has a market cap of $181.92 million, a P/E ratio of -3.14 and a beta of 0.61. Pulmonx Co. has a 12-month low of $4.49 and a 12-month high of $10.01. 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 posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. The business had revenue of $23.77 million during the quarter, compared to the consensus estimate of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. Equities analysts anticipate that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Pulmonx 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.