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

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $8.09, for a total value of $161,800.00. Following the transaction, the director now owns 1,111,974 shares in the company, valued at approximately $8,995,869.66. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Pulmonx Stock Performance

LUNG stock opened at $8.40 on Thursday. The stock has a market capitalization of $326.05 million, a PE ratio of -5.45 and a beta of 0.63. Pulmonx Co. has a 12-month low of $5.46 and a 12-month high of $14.84. The company has a current ratio of 8.97, a quick ratio of 7.92 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $7.18 and its 200 day simple moving average is $7.62.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.02. The business had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $20.23 million. Pulmonx had a negative return on equity of 50.79% and a negative net margin of 75.56%. As a group, research analysts forecast that Pulmonx Co. will post -1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pulmonx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pulmonx during the 2nd quarter valued at $37,000. Allspring Global Investments Holdings LLC raised its holdings in Pulmonx by 609.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock worth $79,000 after purchasing an additional 7,316 shares during the period. Hsbc Holdings PLC purchased a new stake in Pulmonx in the 2nd quarter worth $93,000. Quest Partners LLC purchased a new stake in Pulmonx in the 4th quarter worth $94,000. Finally, EntryPoint Capital LLC purchased a new stake in Pulmonx in the 1st quarter worth $102,000. 91.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company cut their price target on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group upped their price target on Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Lake Street Capital assumed coverage on Pulmonx in a research note on Tuesday, June 4th. They issued a “buy” rating and a $12.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Pulmonx has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Pulmonx Company Profile

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.