Mehul Joshi Sells 14,384 Shares of Pulmonx Co. (NASDAQ:LUNG) Stock

Pulmonx Co. (NASDAQ:LUNG) CFO Mehul Joshi sold 14,384 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.12, for a total transaction of $102,414.08. Following the completion of the sale, the chief financial officer now directly owns 113,986 shares of the company’s stock, valued at approximately $811,580.32. The trade was a 11.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Pulmonx Stock Down 9.2 %

Shares of NASDAQ LUNG opened at $7.44 on Friday. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The company has a market cap of $296.08 million, a price-to-earnings ratio of -5.17 and a beta of 0.50. Pulmonx Co. has a 12 month low of $5.46 and a 12 month high of $10.01. The stock has a 50-day moving average price of $6.95 and a two-hundred day moving average price of $6.94.

Pulmonx (NASDAQ:LUNG) last issued its 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 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%. As a group, analysts forecast that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in Pulmonx by 2.6% during the third quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after acquiring an additional 18,592 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Pulmonx in the third quarter valued at approximately $1,711,000. Geode Capital Management LLC increased its stake in shares of Pulmonx by 1.3% in the third quarter. Geode Capital Management LLC now owns 892,786 shares of the company’s stock valued at $7,403,000 after buying an additional 11,151 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Pulmonx in the third quarter valued at approximately $893,000. Finally, Millrace Asset Group Inc. acquired a new position in shares of Pulmonx in the third quarter valued at approximately $1,390,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LUNG shares. Citigroup reaffirmed a “neutral” rating and set a $7.50 price objective (down previously from $17.00) on shares of Pulmonx in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on shares of Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.75.

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.