Insider Selling: Pulmonx Co. (NASDAQ:LUNG) Director Sells 8,000 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG - Get Free Report) Director Richard Ferrari sold 8,000 shares of the company's stock in a transaction dated 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 owns 87,024 shares of the company's stock, valued at approximately $274,995.84. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Pulmonx Stock Performance

Pulmonx stock traded down $0.05 during trading hours on Monday, hitting $2.98. The stock had a trading volume of 161,296 shares, compared to its average volume of 310,711. The company has a 50-day moving average of $3.89 and a two-hundred day moving average of $5.81. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The company has a market cap of $119.97 million, a PE ratio of -2.07 and a beta of 0.52. Pulmonx Co. has a fifty-two week low of $2.83 and a fifty-two week high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.36) EPS 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 analysts' expectations of $22.03 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. On average, equities research analysts anticipate that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Pulmonx

Several large investors have recently added to or reduced their stakes in LUNG. Deerfield Management Company L.P. Series C acquired a new position in Pulmonx in the 4th quarter valued at approximately $10,421,000. Parkman Healthcare Partners LLC raised its holdings in Pulmonx by 194.4% in the 1st quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock valued at $4,118,000 after acquiring an additional 404,022 shares in the last quarter. Altium Capital Management LLC raised its holdings in Pulmonx by 63.0% in the 4th quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock valued at $5,534,000 after acquiring an additional 315,000 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Pulmonx in the 1st quarter worth approximately $2,041,000. Finally, Nuveen LLC acquired a new position in shares of Pulmonx in the 1st quarter worth approximately $1,336,000. Institutional investors and hedge funds own 91.04% of the company's stock.

Analyst Ratings Changes

LUNG has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating for the company. Citigroup decreased their target price on Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. D. Boral Capital restated a "buy" rating and set a $17.00 target price on shares of Pulmonx in a research note on Thursday, May 1st. Piper Sandler restated 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. Finally, Canaccord Genuity Group decreased their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.53.

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.