Pulmonx (NASDAQ:LUNG) Insider Srikanth Radhakrishnan Sells 14,245 Shares of Stock

Key Points

• Pulmonx insider Srikanth Radhakrishnan sold 14,245 shares at an average price of $2.26, generating $32,193.70. The sale reduced his ownership by 4.3% and was made to cover tax withholding on vested equity awards.
• Pulmonx shares traded at $2.26, with a market capitalization of approximately $97.1 million. The stock remains unprofitable, with a negative P/E ratio and analysts forecasting a full-year loss of $1.05 per share.
• The company’s latest quarterly results exceeded expectations, reporting a $0.24-per-share loss and $22.76 million in revenue. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $7.67.

Pulmonx Corporation (NASDAQ:LUNG - Get Free Report) insider Srikanth Radhakrishnan sold 14,245 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total transaction of $32,193.70. Following the sale, the insider owned 316,994 shares of the company's stock, valued at $716,406.44. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pulmonx Stock Performance

LUNG traded down $0.02 during trading on Thursday, hitting $2.26. The company's stock had a trading volume of 284,129 shares, compared to its average volume of 512,534. The company has a quick ratio of 3.52, a current ratio of 4.32 and a debt-to-equity ratio of 0.95. Pulmonx Corporation has a one year low of $1.13 and a one year high of $2.89. The firm has a market cap of $97.07 million, a PE ratio of -1.95 and a beta of 0.34. The business's 50 day simple moving average is $1.79 and its 200-day simple moving average is $1.56.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.04. The firm had revenue of $22.76 million during the quarter, compared to the consensus estimate of $22.39 million. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. As a group, sell-side analysts predict that Pulmonx Corporation will post -1.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Pulmonx from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. Weiss Ratings raised shares of Pulmonx from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $7.67.

Institutional Investors Weigh In On Pulmonx

A number of hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Pulmonx in the first quarter worth about $26,000. Cerity Partners LLC bought a new stake in Pulmonx in the 4th quarter worth approximately $27,000. Opal Capital LLC bought a new stake in Pulmonx in the 4th quarter worth approximately $29,000. Jain Global LLC purchased a new stake in shares of Pulmonx during the 3rd quarter worth approximately $30,000. Finally, Sei Investments Co. purchased a new stake in shares of Pulmonx during the 1st quarter worth approximately $31,000. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

About Pulmonx

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company's flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.

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