Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III Sells 55,453 Shares

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 55,453 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.28, for a total value of $459,150.84. Following the sale, the director now directly owns 1,011,974 shares in the company, valued at $8,379,144.72. The trade was a 5.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Pulmonx Stock Up 5.9 %

LUNG stock opened at $9.20 on Thursday. 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 stock has a market capitalization of $363.09 million, a P/E ratio of -6.39 and a beta of 0.64. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $10.48. The business has a 50-day moving average of $6.70 and a 200-day moving average of $6.85.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings results 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 firm had revenue of $23.77 million during the quarter, compared to the consensus estimate of $22.29 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. On average, sell-side analysts anticipate that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LUNG. Citigroup restated a “neutral” rating and issued a $7.50 price target (down from $17.00) on shares of Pulmonx in a report on Wednesday, December 11th. Wells Fargo & Company lowered their target price on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus cut their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LUNG. Mackenzie Financial Corp acquired a new stake in Pulmonx in the 4th quarter valued at $372,000. ProShare Advisors LLC bought a new position in shares of Pulmonx in the 4th quarter valued at about $72,000. Millennium Management LLC increased its position in shares of Pulmonx by 26.6% in the fourth quarter. Millennium Management LLC now owns 183,069 shares of the company’s stock valued at $1,243,000 after acquiring an additional 38,425 shares during the last quarter. Graham Capital Management L.P. raised its holdings in Pulmonx by 73.3% during the fourth quarter. Graham Capital Management L.P. now owns 18,071 shares of the company’s stock worth $123,000 after acquiring an additional 7,641 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in Pulmonx by 8.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 392,836 shares of the company’s stock valued at $2,667,000 after purchasing an additional 32,049 shares during the last quarter. Institutional investors and hedge funds 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.