Primecap Management Co. CA Invests $6 Million in Pulmonx Corporation $LUNG

Primecap Management Co. CA bought a new stake in Pulmonx Corporation (NASDAQ:LUNG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,612,331 shares of the company’s stock, valued at approximately $5,996,000. Primecap Management Co. CA owned about 10.74% of Pulmonx as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LUNG. Cerity Partners LLC bought a new position in Pulmonx in the fourth quarter valued at approximately $27,000. Opal Capital LLC acquired a new stake in shares of Pulmonx in the 4th quarter valued at approximately $29,000. Lazard Asset Management LLC acquired a new stake in shares of Pulmonx in the 4th quarter valued at approximately $31,000. Jain Global LLC bought a new position in shares of Pulmonx in the third quarter valued at $30,000. Finally, R Squared Ltd bought a new position in shares of Pulmonx in the first quarter valued at $26,000. Institutional investors own 91.04% of the company’s stock.

Pulmonx Stock Performance

LUNG stock opened at $2.50 on Thursday. 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 company has a fifty day moving average price of $1.68 and a two-hundred day moving average price of $1.53. Pulmonx Corporation has a one year low of $1.13 and a one year high of $2.89. The stock has a market cap of $107.38 million, a price-to-earnings ratio of -2.16 and a beta of 0.28.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. The company had revenue of $22.76 million for the quarter, compared to analyst estimates of $22.39 million. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. Equities analysts anticipate that Pulmonx Corporation will post -1.05 EPS for the current year.

Analysts Set New Price Targets

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

About Pulmonx

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.