Primecap Management Co. CA Sells 29,526 Shares of Pulmonx Co. (NASDAQ:LUNG)

Primecap Management Co. CA reduced its stake in shares of Pulmonx Co. (NASDAQ:LUNG) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,709,901 shares of the company’s stock after selling 29,526 shares during the quarter. Primecap Management Co. CA owned about 14.71% of Pulmonx worth $36,201,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in Pulmonx by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock worth $332,000 after acquiring an additional 1,633 shares during the last quarter. Sei Investments Co. increased its stake in Pulmonx by 2.5% during the first quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock worth $673,000 after acquiring an additional 1,800 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Pulmonx by 609.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock valued at $79,000 after buying an additional 7,316 shares during the period. Quest Partners LLC purchased a new position in shares of Pulmonx during the fourth quarter valued at approximately $94,000. Finally, Victory Capital Management Inc. boosted its position in shares of Pulmonx by 1.0% during the second quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock valued at $5,289,000 after buying an additional 8,004 shares during the period. 91.04% of the stock is owned by institutional investors.

Pulmonx Stock Up 0.4 %

Shares of NASDAQ:LUNG opened at $8.18 on Wednesday. Pulmonx Co. has a 52-week low of $5.46 and a 52-week high of $14.84. The stock has a market cap of $317.51 million, a P/E ratio of -5.31 and a beta of 0.63. The business’s 50 day moving average is $7.14 and its 200 day moving average is $7.61. The company has a quick ratio of 7.92, a current ratio of 8.97 and a debt-to-equity ratio of 0.37.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.02. Pulmonx had a negative return on equity of 50.79% and a negative net margin of 75.56%. The company had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $20.23 million. Sell-side analysts predict that Pulmonx Co. will post -1.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LUNG shares. Canaccord Genuity Group boosted their target price on Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their target price on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Lake Street Capital started coverage on Pulmonx in a research report on Tuesday, June 4th. They set a “buy” rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.83.

Insider Buying and Selling at Pulmonx

In related news, CEO Steven S. Williamson bought 14,245 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were acquired at an average price of $6.84 per share, with a total value of $97,435.80. Following the transaction, the chief executive officer now owns 219,531 shares of the company’s stock, valued at $1,501,592.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Steven S. Williamson bought 14,245 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were acquired at an average price of $6.84 per share, with a total value of $97,435.80. Following the transaction, the chief executive officer now owns 219,531 shares of the company’s stock, valued at $1,501,592.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geoffrey Beran Rose sold 4,586 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.70, for a total value of $30,726.20. Following the completion of the sale, the insider now directly owns 295,433 shares of the company’s stock, valued at approximately $1,979,401.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,535 shares of company stock valued at $76,587. 5.70% of the stock is currently owned by corporate insiders.

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.