Glendon E. French III Sells 20,000 Shares of Pulmonx Co. (NASDAQ:LUNG) Stock

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $6.52, for a total transaction of $130,400.00. Following the completion of the transaction, the director now directly owns 1,091,974 shares of the company’s stock, valued at $7,119,670.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pulmonx Price Performance

Pulmonx stock opened at $6.13 on Wednesday. The firm has a 50-day moving average price of $7.30 and a 200-day moving average price of $7.35. The firm has a market capitalization of $237.94 million, a PE ratio of -3.98 and a beta of 0.64. The company has a current ratio of 8.97, a quick ratio of 7.92 and a debt-to-equity ratio of 0.37. Pulmonx Co. has a 12-month low of $5.46 and a 12-month high of $14.84.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, July 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.02. The firm had revenue of $20.78 million during 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%. As a group, equities research analysts forecast 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 added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Pulmonx by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock valued at $19,262,000 after buying an additional 11,417 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Pulmonx by 7.0% during the 2nd 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 in the last quarter. Victory Capital Management Inc. lifted its holdings in Pulmonx by 1.0% during the 2nd quarter. Victory Capital Management Inc. now owns 834,301 shares of the company’s stock valued at $5,289,000 after buying an additional 8,004 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Pulmonx by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 301,410 shares of the company’s stock valued at $1,911,000 after buying an additional 34,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pulmonx by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 157,902 shares of the company’s stock valued at $1,001,000 after purchasing an additional 17,740 shares in the last quarter. Institutional investors own 91.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented 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 note on Thursday, August 1st. Wells Fargo & Company dropped 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 note 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

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.