Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III Sells 2,326 Shares

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 2,326 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $6.53, for a total transaction of $15,188.78. Following the completion of the sale, the director now owns 1,069,648 shares of the company’s stock, valued at approximately $6,984,801.44. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Pulmonx Stock Performance

Pulmonx stock opened at $6.19 on Wednesday. Pulmonx Co. has a 1-year low of $5.46 and a 1-year high of $14.84. The firm has a market cap of $244.44 million, a P/E ratio of -4.21 and a beta of 0.66. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $6.45 and a 200-day moving average of $6.89.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. The business had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $20.39 million. During the same quarter last year, the business posted ($0.39) EPS. Sell-side analysts expect that Pulmonx Co. will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LUNG. FMR LLC boosted its stake in shares of Pulmonx by 11.2% during the 3rd quarter. FMR LLC now owns 5,872,882 shares of the company’s stock valued at $48,686,000 after purchasing an additional 591,859 shares in the last quarter. PFM Health Sciences LP purchased a new stake in Pulmonx in the third quarter worth about $3,058,000. Parkman Healthcare Partners LLC bought a new stake in Pulmonx during the 3rd quarter valued at approximately $1,711,000. Millrace Asset Group Inc. bought a new stake in Pulmonx during the 3rd quarter valued at approximately $1,390,000. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Pulmonx during the 3rd quarter worth approximately $893,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LUNG. Citigroup reiterated a “neutral” rating and issued a $7.50 target price (down previously from $17.00) on shares of Pulmonx in a research report on Wednesday, December 11th. Stifel Nicolaus lowered their target price on Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price target on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Pulmonx currently has an average rating of “Moderate Buy” and a consensus price target of $12.75.

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.