Insider Selling: Pulmonx Co. (NASDAQ:LUNG) Director Sells 20,000 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG - Get Free Report) Director Glendon E. French III sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $7.85, for a total value of $157,000.00. Following the transaction, the director now directly owns 991,974 shares of the company's stock, valued at approximately $7,786,995.90. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Pulmonx Price Performance

Pulmonx stock traded down $0.49 during midday trading on Tuesday, hitting $6.88. 292,383 shares of the company's stock were exchanged, compared to its average volume of 320,038. The company has a market cap of $273.80 million, a P/E ratio of -4.78 and a beta of 0.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. The stock has a 50-day moving average price of $7.15 and a two-hundred day moving average price of $6.97. Pulmonx Co. has a 52-week low of $5.46 and a 52-week high of $10.01.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $23.77 million for the quarter, compared to analysts' expectations of $22.29 million. On average, equities research analysts forecast that Pulmonx Co. will post -1.55 earnings per share for the current year.

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Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued a "buy" rating for the company. Jefferies Financial Group initiated coverage on shares of Pulmonx in a report on Monday, March 10th. They set a "buy" rating on the stock. Morgan Stanley initiated coverage on Pulmonx in a research report on Monday, March 10th. They set an "equal weight" rating on the stock. Wells Fargo & Company reduced their price target on Pulmonx from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Finally, D. Boral Capital initiated coverage on Pulmonx in a report on Monday, March 10th. They set a "buy" rating and a $17.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.36.

Institutional Trading of Pulmonx

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in Pulmonx by 2.6% in the third quarter. State Street Corp now owns 747,028 shares of the company's stock valued at $6,193,000 after acquiring an additional 18,592 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of Pulmonx in the 3rd quarter worth about $1,711,000. Geode Capital Management LLC increased its position in shares of Pulmonx by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 892,786 shares of the company's stock valued at $7,403,000 after purchasing an additional 11,151 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Pulmonx during the 3rd quarter valued at about $893,000. Finally, Millrace Asset Group Inc. bought a new stake in Pulmonx in the 3rd quarter worth approximately $1,390,000. Hedge funds and other institutional investors own 91.04% of the company's stock.

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.