SCHEDULE: Morgan Stanley Discloses Pulmonx Stake

Morgan Stanley and its subsidiary, Morgan Stanley Capital Services LLC, have filed a Schedule 13G detailing their beneficial ownership of Pulmonx Corp. common stock.

Summary

• Morgan Stanley and its subsidiary, Morgan Stanley Capital Services LLC, have filed an amended Schedule 13G regarding their beneficial ownership of Pulmonx Corp. common stock.
• As of June 30, 2026, Morgan Stanley beneficially owns 2,920,241 shares, representing 6.9% of the class.
• Morgan Stanley Capital Services LLC beneficially owns 2,885,147 shares, representing 6.8% of the class.
• Both entities are organized in Delaware and are registered as brokers or dealers.
• The filing confirms that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this filing as having a neutral to slightly negative sentiment due to its nature as a routine disclosure of beneficial ownership, with no new strategic or financial performance information provided.

Positives

• Disclosure of significant beneficial ownership by a major financial institution can indicate confidence in the company's long-term prospects.
• The filing confirms that the shares are held in the ordinary course of business, suggesting a non-activist investment approach.

Negatives

• The filing does not provide any new financial performance data or strategic updates for Pulmonx Corp.
• The disclosure is an amendment to a previous filing, indicating a change in ownership or reporting status rather than a new development.

Risks

• Changes in beneficial ownership by large institutional investors can sometimes precede significant market movements.
• While not explicitly stated as a risk in this filing, any shift in a large shareholder's position could impact stock liquidity and price.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding Pulmonx Corp.'s future performance. It is a disclosure of beneficial ownership.

Management Comments

• "In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS")."
• "This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures for institutional investors crossing certain ownership thresholds. This filing by Morgan Stanley indicates a significant, but not controlling, stake in Pulmonx Corp., a medical device company focused on treating pulmonary diseases.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by Morgan Stanley may be viewed positively, suggesting institutional interest, but it does not provide information on the company's operational performance.

Next Steps

• Morgan Stanley and Morgan Stanley Capital Services LLC will continue to report any changes in their beneficial ownership of Pulmonx Corp. common stock as required by SEC regulations.

Key Dates

Keywords

Pulmonx Corp, Morgan Stanley, Schedule 13G, Beneficial Ownership, Common Stock, Securities Exchange Act