Pulmonx Co. (NASDAQ:LUNG) CFO Sells $25,230.93 in Stock

Pulmonx Co. (NASDAQ:LUNG - Get Free Report) CFO Mehul Joshi sold 8,061 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.13, for a total transaction of $25,230.93. Following the completion of the sale, the chief financial officer now directly owns 213,925 shares of the company's stock, valued at $669,585.25. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Pulmonx Trading Up 6.7%

LUNG traded up $0.20 during trading on Friday, hitting $3.17. 1,036,300 shares of the stock traded hands, compared to its average volume of 316,044. The firm has a market capitalization of $127.62 million, a P/E ratio of -2.20 and a beta of 0.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. The firm has a 50-day moving average of $4.27 and a 200 day moving average of $5.95. Pulmonx Co. has a 12-month low of $2.83 and a 12-month high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $22.54 million during the quarter, compared to analysts' expectations of $22.03 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. Equities research analysts anticipate that Pulmonx Co. will post -1.55 EPS for the current year.

Analyst Upgrades and Downgrades

LUNG has been the subject of a number of research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. D. Boral Capital reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Pulmonx in a research note on Thursday, May 1st. Canaccord Genuity Group cut their price objective on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Citigroup cut their price objective on shares of Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group started coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.53.

Institutional Investors Weigh In On Pulmonx

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parkman Healthcare Partners LLC lifted its position in shares of Pulmonx by 194.4% in the 1st quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock worth $4,118,000 after purchasing an additional 404,022 shares during the period. PDT Partners LLC increased its stake in Pulmonx by 45.1% during the 1st quarter. PDT Partners LLC now owns 71,637 shares of the company's stock valued at $482,000 after purchasing an additional 22,259 shares in the last quarter. Trexquant Investment LP increased its stake in Pulmonx by 140.0% during the 1st quarter. Trexquant Investment LP now owns 224,909 shares of the company's stock valued at $1,514,000 after purchasing an additional 131,209 shares in the last quarter. Informed Momentum Co LLC bought a new stake in Pulmonx during the 1st quarter valued at about $668,000. Finally, Nuveen LLC bought a new stake in Pulmonx during the 1st quarter valued at about $1,336,000. 91.04% of the stock is 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.