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 stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.63, for a total transaction of $132,600.00. Following the transaction, the director now owns 1,071,974 shares in the company, valued at approximately $7,107,187.62. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pulmonx Stock Down 2.3 %

LUNG opened at $6.46 on Wednesday. The firm’s 50 day simple moving average is $7.00 and its two-hundred day simple moving average is $7.08. 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 Co. has a 1-year low of $5.46 and a 1-year high of $14.84.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. The firm had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $20.39 million. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. During the same period in the prior year, the company posted ($0.39) earnings per share. As a group, equities research analysts expect that Pulmonx Co. will post -1.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group increased their price target 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pulmonx currently has an average rating of “Moderate Buy” and an average price target of $14.67.

Institutional Trading of Pulmonx

Hedge funds and other institutional investors have recently modified their holdings of the company. 272 Capital LP purchased a new stake in shares of Pulmonx in the third quarter worth $25,000. nVerses Capital LLC purchased a new stake in shares of Pulmonx in the third quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pulmonx during the second quarter valued at $37,000. SG Americas Securities LLC purchased a new position in Pulmonx during the third quarter valued at $102,000. Finally, Hsbc Holdings PLC purchased a new position in Pulmonx during the second quarter valued at $93,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

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.