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

Pulmonx Co. (NASDAQ:LUNG) CFO Mehul Joshi sold 14,384 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.12, for a total transaction of $102,414.08. Following the completion of the sale, the chief financial officer now directly owns 113,986 shares of the company’s stock, 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 can be accessed through the SEC website.

Pulmonx Stock Performance

LUNG stock opened at $7.48 on Friday. The firm has a market cap of $297.67 million, a price-to-earnings ratio of -5.19 and a beta of 0.50. The firm has a 50-day simple moving average of $6.95 and a two-hundred day simple moving average of $6.94. Pulmonx Co. has a one year low of $5.46 and a one year high of $10.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.12. The business had revenue of $23.77 million during 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 analysts forecast that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Institutional Trading of Pulmonx

Hedge funds have recently modified their holdings of the company. 272 Capital LP acquired a new position in shares of Pulmonx during the third quarter valued at about $25,000. BNP Paribas Financial Markets acquired a new position in shares of Pulmonx during the fourth quarter valued at about $43,000. R Squared Ltd acquired a new position in shares of Pulmonx during the fourth quarter valued at about $46,000. ProShare Advisors LLC acquired a new position in shares of Pulmonx during the fourth quarter valued at about $72,000. Finally, Stifel Financial Corp acquired a new position in shares of Pulmonx during the fourth quarter valued at about $81,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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