Insider Selling: Pulmonx Co. (NASDAQ:LUNG) Director Sells $161,800.00 in Stock

by · The Markets Daily

Pulmonx Co. (NASDAQ:LUNG – Get Free Report) Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $8.09, for a total transaction of $161,800.00. Following the transaction, the director now directly owns 1,111,974 shares of the company’s stock, valued at $8,995,869.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pulmonx Stock Performance

LUNG stock opened at $8.58 on Friday. Pulmonx Co. has a 12 month low of $5.46 and a 12 month high of $14.84. The firm’s 50-day moving average is $7.23 and its 200 day moving average is $7.62. The company has a market capitalization of $333.04 million, a PE ratio of -5.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.37, a current ratio of 8.97 and a quick ratio of 7.92.

Pulmonx (NASDAQ:LUNG – Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. The business had revenue of $20.78 million for the quarter, compared to analyst estimates of $20.23 million. Pulmonx had a negative net margin of 75.56% and a negative return on equity of 50.79%. On average, research analysts anticipate that Pulmonx Co. will post -1.64 EPS for the current year.

Institutional Investors Weigh In On Pulmonx

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Pulmonx by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock worth $332,000 after buying an additional 1,633 shares in the last quarter. Sei Investments Co. lifted its stake in Pulmonx by 2.5% in the first quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock worth $673,000 after acquiring an additional 1,800 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Pulmonx during the 2nd quarter worth about $37,000. Allspring Global Investments Holdings LLC increased its position in Pulmonx by 609.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock valued at $79,000 after purchasing an additional 7,316 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Pulmonx in the 4th quarter valued at about $94,000. 91.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LUNG shares. Wells Fargo & Company lowered their target price on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Lake Street Capital assumed coverage on shares of Pulmonx in a research note on Tuesday, June 4th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Canaccord Genuity Group upped their target price on Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

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Pulmonx Company Profile

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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.

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