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 on 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 transaction, the director now owns 991,974 shares of the company’s stock, valued at $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 accessible through this link.

Pulmonx Trading Up 0.9 %

Shares of LUNG traded up $0.07 during midday trading on Friday, hitting $7.77. The stock had a trading volume of 371,967 shares, compared to its average volume of 324,137. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $10.01. The business has a 50-day simple moving average of $7.12 and a two-hundred day simple moving average of $6.95. The firm has a market cap of $309.21 million, a P/E ratio of -5.40 and a beta of 0.50. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.12. The business had revenue of $23.77 million during 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%. As a group, equities analysts forecast that Pulmonx Co. will post -1.55 EPS for the current year.

Institutional Trading of Pulmonx

Several institutional investors have recently made changes to their positions in LUNG. Connor Clark & Lunn Investment Management Ltd. bought a new position in Pulmonx during the third quarter valued at approximately $480,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Pulmonx by 5.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,114,297 shares of the company’s stock valued at $9,238,000 after purchasing an additional 55,279 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Pulmonx by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 313,169 shares of the company’s stock valued at $2,596,000 after purchasing an additional 15,543 shares during the period. FMR LLC raised its position in shares of Pulmonx by 11.2% in the third quarter. FMR LLC now owns 5,872,882 shares of the company’s stock valued at $48,686,000 after purchasing an additional 591,859 shares during the period. Finally, Millrace Asset Group Inc. bought a new position in shares of Pulmonx in the third quarter valued at approximately $1,390,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LUNG shares. Wells Fargo & Company reduced their price objective on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. D. Boral Capital started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating and a $17.00 price objective on the stock. Citigroup initiated coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on shares of Pulmonx in a research report on Monday, March 10th. They issued a “buy” rating on the stock. Finally, Morgan Stanley assumed coverage on shares of Pulmonx in a report on Monday, March 10th. They issued an “equal weight” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Pulmonx has an average rating of “Moderate Buy” and a consensus target price 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.