Pulmonx Co. (NASDAQ:LUNG) Director Richard Ferrari Sells 8,000 Shares

Pulmonx Co. (NASDAQ:LUNG - Get Free Report) Director Richard Ferrari sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $3.16, for a total value of $25,280.00. Following the sale, the director now directly owns 87,024 shares in the company, valued at $274,995.84. The trade was a 8.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pulmonx Price Performance

LUNG traded down $0.11 on Friday, hitting $3.03. 179,455 shares of the company's stock were exchanged, compared to its average volume of 315,669. Pulmonx Co. has a fifty-two week low of $2.83 and a fifty-two week high of $9.37. The stock has a market cap of $121.98 million, a price-to-earnings ratio of -2.10 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. The firm has a 50-day moving average price of $3.99 and a 200-day moving average price of $5.86.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. The business had revenue of $22.54 million during the quarter, compared to the consensus estimate of $22.03 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. As a group, equities analysts anticipate that Pulmonx Co. will post -1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

LUNG has been the subject of several recent analyst reports. 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 restated a "buy" rating and set a $17.00 price target on shares of Pulmonx in a research note on Thursday, May 1st. Piper Sandler restated an "overweight" rating and issued a $9.00 target price (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Citigroup decreased 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 assumed coverage on Pulmonx in a report on Monday, March 10th. They issued a "buy" rating for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Pulmonx has a consensus rating of "Moderate Buy" and an average price target of $11.53.

Institutional Trading of Pulmonx

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new position in Pulmonx in the fourth quarter worth approximately $10,421,000. Parkman Healthcare Partners LLC raised its position in Pulmonx by 194.4% in 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 period. Altium Capital Management LLC grew its holdings in shares of Pulmonx by 63.0% during the 4th quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock worth $5,534,000 after purchasing an additional 315,000 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Pulmonx during the 1st quarter worth $2,041,000. Finally, Nuveen LLC acquired a new stake in shares of Pulmonx during the 1st quarter worth about $1,336,000. Institutional investors and hedge funds own 91.04% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.