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

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

Pulmonx Stock Performance

Shares of LUNG stock opened at $8.68 on Wednesday. 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 firm has a fifty day moving average price of $6.64 and a 200 day moving average price of $6.83. The company has a market cap of $342.76 million, a P/E ratio of -6.03 and a beta of 0.64. Pulmonx Co. has a 12 month low of $5.46 and a 12 month high of $11.10.

Pulmonx (NASDAQ:LUNG) last issued its earnings results on Wednesday, February 19th. The company reported ($0.33) EPS 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 net margin of 67.31% and a negative return on equity of 55.36%. Sell-side analysts predict that Pulmonx Co. will post -1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pulmonx

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

Analyst Ratings Changes

Several equities analysts have commented on LUNG shares. Citigroup restated a “neutral” rating and issued a $7.50 price target (down previously from $17.00) on shares of Pulmonx in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their price target on shares of 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 dropped their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.75.

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.