Insider Selling: Pulmonx Co. (NASDAQ:LUNG) Director Sells 20,000 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $6.63, for a total transaction of $132,600.00. Following the completion of the transaction, the director now directly owns 1,071,974 shares in the company, valued at approximately $7,107,187.62. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pulmonx Stock Down 2.3 %

Shares of LUNG stock traded down $0.15 on Tuesday, hitting $6.46. 105,251 shares of the stock were exchanged, compared to its average volume of 386,093. 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 market capitalization of $255.11 million, a P/E ratio of -4.39 and a beta of 0.68. The business has a 50-day moving average of $7.00 and a 200 day moving average of $7.08. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $14.84.

Pulmonx (NASDAQ:LUNG) last posted 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 company had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $20.39 million. During the same period in the prior year, the firm earned ($0.39) earnings per share. Equities analysts anticipate that Pulmonx Co. will post -1.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on LUNG shares. Canaccord Genuity Group lifted their price objective on shares of Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. 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 research note on Thursday, August 1st. Finally, Stifel Nicolaus lowered their target price on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.67.

Institutional Trading of Pulmonx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC raised its holdings in Pulmonx by 261.2% during the second 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. Sei Investments Co. raised its holdings in Pulmonx by 2.5% during 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 in the last quarter. SG Americas Securities LLC bought a new stake in Pulmonx during the third quarter worth about $102,000. XTX Topco Ltd bought a new stake in Pulmonx during the second quarter worth about $222,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Pulmonx by 7.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,059,018 shares of the company’s stock valued at $6,714,000 after buying an additional 69,595 shares during the period. Institutional investors own 91.04% of the company’s stock.

Pulmonx Company Profile

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.