Insider Selling: Pulmonx (NASDAQ:LUNG) Insider Sells 6,543 Shares of Stock

Key Points

• Geoffrey Beran Rose, an insider at Pulmonx, sold 6,543 shares for $10,468.80, reducing their ownership by 1.69% to approximately 379,788 shares.
• Pulmonx reported a quarterly earnings loss of ($0.38) per share, surpassing expectations, and had quarterly revenue of $23.86 million.
• Several analysts have downgraded their price targets for Pulmonx, with Wells Fargo reducing its target from $6.00 to $3.00 and Stifel Nicolaus from $16.00 to $5.00, indicating a cautious outlook on the stock.

Pulmonx Corporation (NASDAQ:LUNG - Get Free Report) insider Geoffrey Beran Rose sold 6,543 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $1.60, for a total value of $10,468.80. Following the completion of the sale, the insider directly owned 379,788 shares of the company's stock, valued at $607,660.80. The trade was a 1.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Pulmonx Price Performance

Shares of Pulmonx stock remained flat at $1.74 during trading on Friday. The stock had a trading volume of 304,193 shares, compared to its average volume of 653,362. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.63 and a current ratio of 5.35. The stock has a market capitalization of $70.91 million, a P/E ratio of -1.22 and a beta of 0.43. Pulmonx Corporation has a 52-week low of $1.47 and a 52-week high of $9.37. The company has a fifty day moving average price of $2.25 and a 200-day moving average price of $4.10.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.02. The firm had revenue of $23.86 million during the quarter, compared to analysts' expectations of $23.46 million. Pulmonx had a negative return on equity of 69.76% and a negative net margin of 62.88%. Pulmonx has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Pulmonx Corporation will post -1.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LUNG shares. Stifel Nicolaus reduced their target price on Pulmonx from $16.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Lake Street Capital reduced their target price on Pulmonx from $12.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company reduced their target price on Pulmonx from $6.00 to $3.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Piper Sandler lowered Pulmonx from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $9.00 to $2.50 in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded Pulmonx from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $7.66.

Hedge Funds Weigh In On Pulmonx

A number of institutional investors have recently modified their holdings of the stock. Corton Capital Inc. purchased a new position in shares of Pulmonx during the 2nd quarter valued at about $32,000. R Squared Ltd purchased a new position in shares of Pulmonx during the 2nd quarter valued at about $41,000. BNP Paribas Financial Markets purchased a new position in shares of Pulmonx during the 4th quarter valued at about $43,000. Bank of Montreal Can purchased a new position in shares of Pulmonx during the 2nd quarter valued at about $53,000. Finally, ProShare Advisors LLC purchased a new position in shares of Pulmonx during the 4th quarter valued at about $72,000. Hedge funds and other institutional investors own 91.04% of the company's stock.

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.