Insider Selling: Pulmonx Co. (NASDAQ:LUNG) Director Sells $157,000.00 in 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 transaction of $157,000.00. Following the completion of the sale, the director now owns 991,974 shares in the company, valued at approximately $7,786,995.90. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Pulmonx Price Performance

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

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings data 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. The business had revenue of $23.77 million for the quarter, compared to analysts’ expectations of $22.29 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. On average, research analysts expect that Pulmonx Co. will post -1.55 EPS for the current year.

Institutional Investors Weigh In On Pulmonx

Hedge funds have recently made changes to their positions in the business. 272 Capital LP bought a new position in Pulmonx in the 3rd quarter worth approximately $25,000. BNP Paribas Financial Markets acquired a new position in Pulmonx during the 4th quarter worth $43,000. R Squared Ltd acquired a new position in Pulmonx during the 4th quarter worth $46,000. ProShare Advisors LLC bought a new position in shares of Pulmonx in the fourth quarter worth $72,000. Finally, Stifel Financial Corp acquired a new position in shares of Pulmonx during the fourth quarter valued at $81,000. Institutional investors own 91.04% of the company’s stock.

Wall Street Analysts Forecast Growth

LUNG has been the subject of several research analyst reports. Citigroup began coverage on Pulmonx in a report on Monday, March 10th. They issued a “buy” rating for the company. D. Boral Capital initiated coverage on Pulmonx in a report on Monday, March 10th. They issued a “buy” rating and a $17.00 price target for the company. Morgan Stanley began coverage on Pulmonx in a research note on Monday, March 10th. They set an “equal weight” rating on the stock. Wells Fargo & Company decreased their price objective on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Jefferies Financial Group assumed coverage on shares of Pulmonx in a report on Monday, March 10th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Pulmonx has a consensus rating of “Moderate Buy” and an average price target of $13.36.

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.