Pulmonx Co. (NASDAQ:LUNG) CFO Mehul Joshi Sells 14,384 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG) CFO Mehul Joshi sold 14,384 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $7.12, for a total transaction of $102,414.08. Following the transaction, the chief financial officer now directly owns 113,986 shares in the company, valued at approximately $811,580.32. This trade represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Pulmonx Price Performance

Pulmonx stock opened at $8.19 on Thursday. Pulmonx Co. has a 52 week low of $5.46 and a 52 week high of $10.01. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $6.93 and its 200 day simple moving average is $6.93. The firm has a market capitalization of $325.93 million, a PE ratio of -5.69 and a beta of 0.50.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. The company had revenue of $23.77 million for the quarter, compared to analyst estimates of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. On average, equities research analysts predict that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LUNG. Citigroup reaffirmed a “neutral” rating and set a $7.50 price target (down from $17.00) on shares of Pulmonx in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price target on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Pulmonx by 11.2% in 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. Deerfield Management Company L.P. Series C purchased a new position in Pulmonx in the 4th quarter valued at about $10,421,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Pulmonx by 5.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,114,297 shares of the company’s stock worth $9,238,000 after acquiring an additional 55,279 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Pulmonx by 2.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,055,522 shares of the company’s stock worth $8,750,000 after acquiring an additional 25,002 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Pulmonx by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 902,240 shares of the company’s stock worth $6,128,000 after acquiring an additional 9,454 shares during the period. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

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.