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 the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $7.85, for a total value of $157,000.00. Following the completion of the sale, the director now owns 991,974 shares in the company, valued at $7,786,995.90. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Pulmonx Price Performance

Shares of NASDAQ LUNG opened at $7.77 on Friday. The firm has a market capitalization of $309.21 million, a P/E ratio of -5.40 and a beta of 0.50. The firm’s 50-day moving average price is $7.14 and its 200-day moving average price is $6.96. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. Pulmonx Co. has a 1-year low of $5.46 and a 1-year high of $10.01.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $22.29 million. Equities research analysts anticipate that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. D. Boral Capital started coverage on Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating and a $17.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating on the stock. Citigroup began coverage on shares of Pulmonx in a research report on Monday, March 10th. They set a “buy” rating for the company. Wells Fargo & Company dropped their target price on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Morgan Stanley initiated coverage on Pulmonx in a research report on Monday, March 10th. They issued an “equal weight” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.36.

Institutional Trading of Pulmonx

Hedge funds have recently bought and sold shares of the business. 272 Capital LP bought a new position in shares of Pulmonx in the third quarter valued at $25,000. BNP Paribas Financial Markets bought a new stake in shares of Pulmonx during the fourth quarter worth about $43,000. R Squared Ltd acquired a new stake in shares of Pulmonx in the 4th quarter worth about $46,000. ProShare Advisors LLC bought a new position in Pulmonx in the 4th quarter valued at about $72,000. Finally, Stifel Financial Corp acquired a new position in Pulmonx during the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

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.