Insider Selling: Pulmonx Co. (NASDAQ:LUNG) General Counsel Sells 5,765 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG) General Counsel David Aaron Lehman sold 5,765 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.69, for a total transaction of $38,567.85. Following the transaction, the general counsel now owns 203,348 shares in the company, valued at $1,360,398.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Pulmonx Price Performance

Shares of LUNG opened at $6.94 on Friday. The company has a 50 day moving average price of $6.90 and a 200-day moving average price of $7.86. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $14.84. The stock has a market capitalization of $269.38 million, a PE ratio of -4.51 and a beta of 0.63. The company has a debt-to-equity ratio of 0.37, a quick ratio of 7.92 and a current ratio of 8.97.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Pulmonx during the 2nd quarter worth approximately $477,000. Mackenzie Financial Corp bought a new position in shares of Pulmonx during the 2nd quarter worth approximately $102,000. Deerfield Management Company L.P. Series C raised its stake in shares of Pulmonx by 134.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 47,539 shares of the company’s stock worth $301,000 after acquiring an additional 27,250 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pulmonx during the 2nd quarter worth approximately $37,000. Finally, Squarepoint Ops LLC raised its stake in shares of Pulmonx by 261.2% during the 2nd quarter. Squarepoint Ops LLC now owns 144,409 shares of the company’s stock worth $916,000 after acquiring an additional 104,432 shares in the last quarter. Institutional investors own 91.04% of the company’s stock.

About Pulmonx

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.