Insider Selling: Pulmonx Co. (NASDAQ:LUNG) General Counsel Sells 10,457 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG - Get Free Report) General Counsel David Aaron Lehman sold 10,457 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $32,730.41. Following the completion of the transaction, the general counsel now owns 273,039 shares in the company, valued at approximately $854,612.07. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Pulmonx Stock Up 6.7%

Pulmonx stock traded up $0.20 during midday trading on Friday, hitting $3.17. The stock had a trading volume of 1,036,300 shares, compared to its average volume of 316,044. 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 stock has a market cap of $127.62 million, a P/E ratio of -2.20 and a beta of 0.52. Pulmonx Co. has a 12 month low of $2.83 and a 12 month high of $9.37. The business has a fifty day moving average price of $4.27 and a 200 day moving average price of $5.95.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. The firm had revenue of $22.54 million during the quarter, compared to analyst estimates of $22.03 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. Research analysts predict that Pulmonx Co. will post -1.55 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on LUNG. Morgan Stanley began coverage on Pulmonx in a research note on Monday, March 10th. They issued an "equal weight" rating on the stock. Jefferies Financial Group began coverage on Pulmonx in a research note on Monday, March 10th. They issued a "buy" rating on the stock. Citigroup cut their price target on Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. D. Boral Capital reiterated a "buy" rating and issued a $17.00 price target on shares of Pulmonx in a research note on Thursday, May 1st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $9.00 price target (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.53.

Hedge Funds Weigh In On Pulmonx

Several institutional investors have recently made changes to their positions in LUNG. Deerfield Management Company L.P. Series C bought a new position in shares of Pulmonx during the fourth quarter valued at approximately $10,421,000. Parkman Healthcare Partners LLC grew its holdings in shares of Pulmonx by 194.4% during the first quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock valued at $4,118,000 after purchasing an additional 404,022 shares during the last quarter. Altium Capital Management LLC grew its holdings in shares of Pulmonx by 63.0% during the fourth quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock valued at $5,534,000 after purchasing an additional 315,000 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Pulmonx during the first quarter valued at approximately $2,041,000. Finally, Nuveen LLC bought a new position in shares of Pulmonx during the first quarter valued at approximately $1,336,000. 91.04% of the stock is owned by institutional investors.

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.