Glendon French III Sells 41,882 Shares of Pulmonx (NASDAQ:LUNG) Stock

Pulmonx Corporation (NASDAQ:LUNG) CEO Glendon French III sold 41,882 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.26, for a total value of $94,653.32. Following the completion of the sale, the chief executive officer owned 1,137,936 shares of the company’s stock, valued at $2,571,735.36. This represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pulmonx Stock Down 0.9%

Shares of Pulmonx stock traded down $0.02 during trading on Thursday, hitting $2.26. 284,129 shares of the stock traded hands, compared to its average volume of 512,534. The company has a current ratio of 4.32, a quick ratio of 3.52 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $1.79 and its 200 day simple moving average is $1.56. The firm has a market cap of $97.07 million, a P/E ratio of -1.95 and a beta of 0.34. Pulmonx Corporation has a 52-week low of $1.13 and a 52-week high of $2.89.

Pulmonx (NASDAQ:LUNG) last issued its earnings results on Wednesday, July 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.04. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. The company had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $22.39 million. On average, equities analysts predict that Pulmonx Corporation will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LUNG. ADAR1 Capital Management LLC boosted its stake in Pulmonx by 4.9% in the third quarter. ADAR1 Capital Management LLC now owns 214,497 shares of the company’s stock valued at $347,000 after acquiring an additional 10,000 shares in the last quarter. Jain Global LLC lifted its holdings in shares of Pulmonx by 62.9% during the 4th quarter. Jain Global LLC now owns 30,566 shares of the company’s stock valued at $68,000 after purchasing an additional 11,800 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Pulmonx in the 4th quarter worth $27,000. Algert Global LLC boosted its position in shares of Pulmonx by 15.2% in the 2nd quarter. Algert Global LLC now owns 98,332 shares of the company’s stock worth $128,000 after purchasing an additional 12,970 shares in the last quarter. Finally, Opal Capital LLC purchased a new position in Pulmonx during the 4th quarter worth $29,000. Institutional investors own 91.04% of the company’s stock.

Wall Street Analyst Weigh In

LUNG has been the subject of a number of analyst reports. Weiss Ratings upgraded Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 25th. Wall Street Zen raised Pulmonx from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pulmonx presently has an average rating of “Moderate Buy” and a consensus price target of $7.67.

Pulmonx Company Profile

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.