Stonepine Capital Management LLC Buys Shares of 815,436 Pulmonx Corporation $LUNG

Stonepine Capital Management LLC bought a new position in Pulmonx Corporation (NASDAQ:LUNG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 815,436 shares of the company’s stock, valued at approximately $1,060,067,000.

A number of other large investors have also made changes to their positions in the company. Primecap Management Co. CA bought a new position in shares of Pulmonx in the 2nd quarter worth approximately $5,996,000. ExodusPoint Capital Management LP bought a new stake in Pulmonx during the fourth quarter valued at approximately $4,312,000. Bank of America Corp DE grew its position in Pulmonx by 60.3% during the first quarter. Bank of America Corp DE now owns 1,166,826 shares of the company’s stock valued at $1,505,000 after buying an additional 439,027 shares during the period. Almitas Capital LLC purchased a new stake in Pulmonx during the second quarter valued at approximately $1,383,000. Finally, BlackRock Inc. purchased a new stake in Pulmonx during the second quarter valued at approximately $1,147,000. 91.04% of the stock is currently owned by institutional investors.

Pulmonx Trading Down 3.2%

Pulmonx stock opened at $2.42 on Friday. Pulmonx Corporation has a 12-month low of $1.13 and a 12-month high of $2.89. The firm has a market capitalization of $103.94 million, a price-to-earnings ratio of -2.09 and a beta of 0.28. The firm has a 50 day moving average of $1.70 and a 200 day moving average of $1.53. The company has a current ratio of 4.32, a quick ratio of 3.52 and a debt-to-equity ratio of 0.95.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results 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 business had revenue of $22.76 million for the quarter, compared to the consensus estimate of $22.39 million. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. As a group, research analysts predict that Pulmonx Corporation will post -1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Pulmonx Profile

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.