Luna Innovations Incorporated (NASDAQ:LUNA) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of Luna Innovations Incorporated (NASDAQ:LUNA) by 52.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,771 shares of the scientific and technical instruments company’s stock after selling 25,998 shares during the quarter. Point72 Asia Singapore Pte. Ltd. owned approximately 0.07% of Luna Innovations worth $56,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Malaga Cove Capital LLC acquired a new stake in shares of Luna Innovations in the third quarter valued at approximately $25,000. Hodges Capital Management Inc. acquired a new stake in shares of Luna Innovations in the 2nd quarter worth $33,000. AQR Capital Management LLC purchased a new position in shares of Luna Innovations during the 2nd quarter worth $37,000. Point72 DIFC Ltd acquired a new position in shares of Luna Innovations during the 2nd quarter valued at about $39,000. Finally, Summit Securities Group LLC purchased a new position in Luna Innovations during the second quarter worth about $45,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.

Luna Innovations Stock Up 3.4 %

Shares of Luna Innovations stock opened at $1.83 on Friday. The firm has a market cap of $62.15 million, a PE ratio of -22.88 and a beta of 1.62. Luna Innovations Incorporated has a 52 week low of $1.43 and a 52 week high of $7.92. The business’s fifty day simple moving average is $1.78 and its 200-day simple moving average is $2.45.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Luna Innovations in a research note on Monday, December 2nd. They issued a “sell” rating for the company.

About Luna Innovations

Luna Innovations Incorporated provides fiber optic test, measurement, and control products worldwide. The company offers test and measurement equipment for fiber optic components and sub-assemblies; polarization control products, including components, modules, and instruments to measure, manage, and control polarization and group delay in fiber optic networks; tunable lasers; and single frequency lasers.