Millrace Asset Group Inc. Purchases Shares of 167,725 Pulmonx Co. (NASDAQ:LUNG)

Millrace Asset Group Inc. acquired a new position in shares of Pulmonx Co. (NASDAQ:LUNG) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 167,725 shares of the company’s stock, valued at approximately $1,390,000. Millrace Asset Group Inc. owned approximately 0.42% of Pulmonx as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Pulmonx by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock valued at $332,000 after purchasing an additional 1,633 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Pulmonx by 2.5% in the 1st quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock valued at $673,000 after buying an additional 1,800 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Pulmonx in the 3rd quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pulmonx during the 2nd quarter worth $37,000. Finally, Victory Capital Management Inc. lifted its position in Pulmonx by 1.0% in the second quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock valued at $5,289,000 after acquiring an additional 8,004 shares during the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Stock Performance

NASDAQ LUNG opened at $6.61 on Tuesday. The firm has a market cap of $261.03 million, a P/E ratio of -4.50 and a beta of 0.68. Pulmonx Co. has a 52-week low of $5.46 and a 52-week high of $14.84. The business’s 50-day moving average price is $7.04 and its 200 day moving average price is $7.09. 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 announced its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share 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 company had revenue of $20.39 million for the quarter, compared to the consensus estimate of $20.39 million. During the same period last year, the business posted ($0.39) EPS. On average, equities research analysts expect that Pulmonx Co. will post -1.53 earnings per share for the current year.

Insiders Place Their Bets

In other Pulmonx news, insider Geoffrey Beran Rose sold 4,586 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.70, for a total transaction of $30,726.20. Following the sale, the insider now directly owns 295,433 shares in the company, valued at approximately $1,979,401.10. The trade was a 1.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glendon E. French III sold 20,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $8.09, for a total transaction of $161,800.00. Following the completion of the transaction, the director now owns 1,111,974 shares of the company’s stock, valued at $8,995,869.66. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,351 shares of company stock worth $361,494. 5.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LUNG has been the topic of several research reports. Canaccord Genuity Group raised their price objective on Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company dropped their price target on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Stifel Nicolaus reduced their price objective on Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

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.