Pulmonx Co. (NASDAQ:LUNG) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in Pulmonx Co. (NASDAQ:LUNG) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 700,389 shares of the company’s stock after buying an additional 15,570 shares during the period. Franklin Resources Inc.’s holdings in Pulmonx were worth $5,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Pulmonx by 1.8% in the third quarter. Barclays PLC now owns 94,109 shares of the company’s stock valued at $780,000 after purchasing an additional 1,679 shares in the last quarter. 272 Capital LP acquired a new position in shares of Pulmonx during the 3rd quarter worth approximately $25,000. nVerses Capital LLC purchased a new stake in Pulmonx in the 3rd quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pulmonx during the 2nd quarter valued at $37,000. Finally, Victory Capital Management Inc. increased its position in Pulmonx by 1.0% during the second quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock worth $5,289,000 after buying an additional 8,004 shares in the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pulmonx

In related news, Director Glendon E. French III sold 20,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.63, for a total transaction of $132,600.00. Following the completion of the sale, the director now owns 1,071,974 shares of the company’s stock, valued at approximately $7,107,187.62. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Aaron Lehman sold 5,497 shares of Pulmonx stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.19, for a total transaction of $34,026.43. Following the transaction, the general counsel now directly owns 197,851 shares in the company, valued at approximately $1,224,697.69. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,873 shares of company stock worth $324,070 in the last ninety days. Insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Citigroup reiterated a “neutral” rating and set a $7.50 price target (down from $17.00) on shares of Pulmonx in a report on Wednesday, December 11th. Finally, Stifel Nicolaus reduced their price objective on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.75.

Pulmonx Stock Up 1.8 %

LUNG opened at $6.26 on Tuesday. Pulmonx Co. has a 12 month low of $5.46 and a 12 month high of $14.84. The business has a 50-day moving average of $6.50 and a two-hundred day moving average of $6.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. The stock has a market capitalization of $247.21 million, a price-to-earnings ratio of -4.26 and a beta of 0.69.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $20.39 million. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. During the same period in the previous year, the firm earned ($0.39) earnings per share. On average, research analysts expect that Pulmonx Co. will post -1.53 earnings per share for the current year.

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.