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

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 20,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $6.63, for a total value of $132,600.00. Following the sale, the director now directly owns 1,071,974 shares of the company’s stock, valued at $7,107,187.62. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pulmonx Trading Down 2.5 %

Shares of NASDAQ:LUNG opened at $6.30 on Friday. Pulmonx Co. has a 12-month low of $5.46 and a 12-month high of $14.84. The company’s 50 day moving average price is $6.96 and its two-hundred day moving average price is $7.08. 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. The firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $20.39 million. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. During the same quarter last year, the company earned ($0.39) EPS. As a group, sell-side analysts predict that Pulmonx Co. will post -1.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its holdings in Pulmonx by 261.2% in the 2nd quarter. Squarepoint Ops LLC now owns 144,409 shares of the company’s stock valued at $916,000 after buying an additional 104,432 shares during the period. Sei Investments Co. lifted its stake in shares of Pulmonx by 2.5% in the 1st quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock valued at $673,000 after acquiring an additional 1,800 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Pulmonx during the 3rd quarter valued at $102,000. XTX Topco Ltd bought a new stake in Pulmonx during the 2nd quarter worth $222,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Pulmonx by 7.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,059,018 shares of the company’s stock worth $6,714,000 after purchasing an additional 69,595 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Canaccord Genuity Group raised their price objective on shares of Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lowered their target price on Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

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.