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 that occurred on Thursday, September 12th. The stock was sold at an average price of $8.09, for a total transaction of $161,800.00. Following the sale, the director now owns 1,111,974 shares in the company, valued at $8,995,869.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pulmonx Stock Up 2.7 %

NASDAQ:LUNG traded up $0.22 during midday trading on Wednesday, hitting $8.40. 418,701 shares of the company were exchanged, compared to its average volume of 433,694. Pulmonx Co. has a fifty-two week low of $5.46 and a fifty-two week high of $14.84. The company has a market capitalization of $326.05 million, a PE ratio of -5.40 and a beta of 0.63. The company has a current ratio of 8.97, a quick ratio of 7.92 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $7.14 and a 200 day simple moving average of $7.61.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Wednesday, July 31st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.02. The business had revenue of $20.78 million during the quarter, compared to the consensus estimate of $20.23 million. Pulmonx had a negative return on equity of 50.79% and a negative net margin of 75.56%. As a group, equities analysts anticipate that Pulmonx Co. will post -1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUNG has been the topic of a number of recent analyst reports. Lake Street Capital started coverage on shares of Pulmonx in a research report on Tuesday, June 4th. They issued a “buy” rating and a $12.00 price objective on the stock. Wells Fargo & Company dropped their target price on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Canaccord Genuity Group lifted their price target on Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Hedge Funds Weigh In On Pulmonx

A number of hedge funds have recently modified their holdings of LUNG. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pulmonx during the 2nd quarter worth $37,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Pulmonx by 609.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock valued at $79,000 after buying an additional 7,316 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Pulmonx during the second quarter worth about $93,000. Quest Partners LLC purchased a new position in shares of Pulmonx during the fourth quarter worth about $94,000. Finally, EntryPoint Capital LLC acquired a new position in Pulmonx in the 1st quarter valued at about $102,000. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

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.