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

Pulmonx Co. (NASDAQ:LUNG) Director Glendon E. French III sold 20,000 shares of the business’s stock in a transaction dated 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 $7,107,187.62. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pulmonx Stock Performance

Shares of NASDAQ LUNG opened at $6.46 on Wednesday. The firm’s 50 day moving average price is $7.00 and its 200-day moving average price is $7.08. Pulmonx Co. has a 52-week low of $5.46 and a 52-week high of $14.84. 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 (NASDAQ:LUNG) last issued its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. The firm had revenue of $20.39 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted ($0.39) earnings per share. On average, research analysts forecast that Pulmonx Co. will post -1.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

LUNG has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price target on shares of Pulmonx from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced 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, Stifel Nicolaus cut their price objective on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Pulmonx currently has an average rating of “Moderate Buy” and an average price target of $14.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Pulmonx by 1.8% in the third quarter. Barclays PLC now owns 94,109 shares of the company’s stock worth $780,000 after buying an additional 1,679 shares in the last quarter. Geode Capital Management LLC lifted its position in Pulmonx by 1.3% during the third quarter. Geode Capital Management LLC now owns 892,786 shares of the company’s stock valued at $7,403,000 after purchasing an additional 11,151 shares during the period. State Street Corp lifted its position in Pulmonx by 2.6% during the third quarter. State Street Corp now owns 747,028 shares of the company’s stock valued at $6,193,000 after purchasing an additional 18,592 shares during the period. Polar Asset Management Partners Inc. bought a new position in Pulmonx during the third quarter valued at approximately $893,000. Finally, Parkman Healthcare Partners LLC bought a new position in Pulmonx during the third quarter valued at approximately $1,711,000. Institutional investors own 91.04% of the company’s stock.

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.