Insider Selling: Pulmonx Co. (NASDAQ:LUNG) Director Sells 55,453 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 55,453 shares of Pulmonx stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.28, for a total transaction of $459,150.84. Following the completion of the sale, the director now owns 1,011,974 shares of the company’s stock, valued at $8,379,144.72. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pulmonx Trading Down 0.4 %

Shares of LUNG stock opened at $8.92 on Tuesday. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $11.10. The stock’s fifty day moving average price is $6.59 and its two-hundred day moving average price is $6.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. The company has a market cap of $352.25 million, a PE ratio of -6.19 and a beta of 0.64.

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

Institutional Investors Weigh In On Pulmonx

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake 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 during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of Pulmonx during the fourth quarter worth $10,421,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Pulmonx by 5.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,114,297 shares of the company’s stock valued at $9,238,000 after acquiring an additional 55,279 shares during the last quarter. JPMorgan Chase & Co. boosted 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 valued at $8,750,000 after acquiring an additional 25,002 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in 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 last quarter. 91.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company cut their target price on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $7.50 price target (down previously from $17.00) on shares of Pulmonx in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.