Glendon E. French III Sells 20,000 Shares of Pulmonx Co. (NASDAQ:LUNG) Stock

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 20,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $6.63, for a total transaction of $132,600.00. Following the sale, the director now directly owns 1,071,974 shares of the company’s stock, valued at $7,107,187.62. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Pulmonx Stock Performance

NASDAQ LUNG opened at $6.30 on Thursday. The firm’s fifty day moving average price is $6.96 and its two-hundred day moving average price is $7.08. The stock has a market cap of $248.79 million, a PE ratio of -4.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $14.84.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on LUNG. Stifel Nicolaus cut their price target on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company cut their target price on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Canaccord Genuity Group lifted their price target on Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in Pulmonx by 11.2% during the 3rd quarter. FMR LLC now owns 5,872,882 shares of the company’s stock worth $48,686,000 after buying an additional 591,859 shares during the period. PFM Health Sciences LP acquired a new position in shares of Pulmonx during the third quarter worth $3,058,000. Parkman Healthcare Partners LLC acquired a new position in shares of Pulmonx during the third quarter worth $1,711,000. Millrace Asset Group Inc. bought a new stake in shares of Pulmonx in the third quarter worth $1,390,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Pulmonx in the third quarter valued at $893,000. 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.