Mehul Joshi Sells 8,061 Shares of Pulmonx Co. (NASDAQ:LUNG) 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 in the company, valued at $669,585.25. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Pulmonx Price Performance

LUNG traded down $0.10 on Wednesday, reaching $3.08. The company had a trading volume of 249,343 shares, compared to its average volume of 312,447. The company has a fifty day moving average of $4.49 and a 200-day moving average of $6.01. The company has a market capitalization of $123.99 million, a P/E ratio of -2.14 and a beta of 0.52. 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 Co. has a one year low of $2.83 and a one year high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 67.31% and a negative return on equity of 55.36%. As a group, equities research analysts anticipate that Pulmonx Co. will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On Pulmonx

A number of institutional investors and hedge funds have recently bought and sold shares of LUNG. BNP Paribas Financial Markets acquired a new stake in Pulmonx in the 4th quarter valued at about $43,000. ProShare Advisors LLC acquired a new stake in Pulmonx in the 4th quarter valued at about $72,000. Stifel Financial Corp acquired a new stake in Pulmonx in the 4th quarter valued at about $81,000. Vontobel Holding Ltd. acquired a new stake in Pulmonx in the 1st quarter valued at about $82,000. Finally, SG Americas Securities LLC lifted its holdings in Pulmonx by 27.0% in the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock valued at $106,000 after acquiring an additional 3,310 shares during the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LUNG shares. Canaccord Genuity Group lowered their target price 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. Morgan Stanley started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating for the company. D. Boral Capital reiterated a "buy" rating and set a $17.00 target price on shares of Pulmonx in a research note on Thursday, May 1st. Jefferies Financial Group started coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a "buy" rating for the company. Finally, Piper Sandler reiterated an "overweight" rating and set a $9.00 target price (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 six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.59.

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.

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