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 the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.28, for a total transaction of $459,150.84. Following the completion of the transaction, the director now directly owns 1,011,974 shares of the company’s stock, valued at approximately $8,379,144.72. This trade represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Pulmonx Stock Down 2.7 %

Shares of NASDAQ LUNG opened at $8.68 on Wednesday. Pulmonx Co. has a 1 year low of $5.46 and a 1 year high of $11.10. The firm’s 50 day moving average price is $6.64 and its 200 day moving average price is $6.83. The firm has a market cap of $342.76 million, a P/E ratio of -6.03 and a beta of 0.64. 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 announced its earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. The firm had revenue of $23.77 million for the quarter, compared to analyst estimates of $22.29 million. As a group, sell-side analysts anticipate that Pulmonx Co. will post -1.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on LUNG shares. Citigroup reaffirmed a “neutral” rating and issued a $7.50 target price (down from $17.00) on shares of Pulmonx in a report on Wednesday, December 11th. Wells Fargo & Company lowered their price target on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus lowered their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Institutional Trading of Pulmonx

A number of hedge funds have recently bought and sold shares of LUNG. Barclays PLC raised its stake in Pulmonx by 1.8% during the third quarter. Barclays PLC now owns 94,109 shares of the company’s stock worth $780,000 after purchasing an additional 1,679 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Pulmonx by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company’s stock worth $2,142,000 after purchasing an additional 2,363 shares during the period. Rhumbline Advisers raised its stake in Pulmonx by 4.9% during the fourth quarter. Rhumbline Advisers now owns 53,503 shares of the company’s stock worth $363,000 after purchasing an additional 2,488 shares during the period. American Century Companies Inc. raised its stake in Pulmonx by 8.8% during the fourth quarter. American Century Companies Inc. now owns 34,738 shares of the company’s stock worth $236,000 after purchasing an additional 2,810 shares during the period. Finally, 272 Capital LP purchased a new position in Pulmonx during the third quarter worth approximately $25,000. 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.