Pulmonx Co. (NASDAQ:LUNG) CEO Sells $971,500.00 in Stock

Pulmonx Co. (NASDAQ:LUNG) CEO Glendon E. French III sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $38.86, for a total value of $971,500.00. Following the completion of the transaction, the chief executive officer now owns 1,155,370 shares of the company’s stock, valued at approximately $44,897,678.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ:LUNG traded down $1.26 during mid-day trading on Monday, reaching $37.30. The company’s stock had a trading volume of 522,400 shares, compared to its average volume of 355,623. The company’s fifty day simple moving average is $39.21 and its two-hundred day simple moving average is $43.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.28 and a quick ratio of 13.46. Pulmonx Co. has a twelve month low of $35.81 and a twelve month high of $69.48. The stock has a market cap of $1.37 billion and a P/E ratio of -16.08.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings data on Monday, August 2nd. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.03. The business had revenue of $12.20 million for the quarter, compared to analyst estimates of $10.26 million. Pulmonx had a negative return on equity of 33.72% and a negative net margin of 89.71%. Sell-side analysts expect that Pulmonx Co. will post -1.43 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUNG. Greenspring Associates LLC acquired a new position in Pulmonx during the 1st quarter worth approximately $26,000. Royal Bank of Canada lifted its position in Pulmonx by 119.0% during the 1st quarter. Royal Bank of Canada now owns 863 shares of the company’s stock worth $40,000 after acquiring an additional 469 shares in the last quarter. Siguler Guff Advisers LLC acquired a new position in Pulmonx during the 2nd quarter worth approximately $43,000. Citigroup Inc. increased its holdings in Pulmonx by 104.5% during the 2nd quarter. Citigroup Inc. now owns 1,575 shares of the company’s stock worth $69,000 after purchasing an additional 805 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Pulmonx by 104.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,991 shares of the company’s stock worth $88,000 after purchasing an additional 1,018 shares during the last quarter. 70.42% of the stock is currently owned by institutional investors and hedge funds.

Separately, Canaccord Genuity dropped their price target on Pulmonx from $65.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pulmonx has an average rating of “Buy” and a consensus target price of $56.50.

Pulmonx Company Profile

Pulmonx Corporation, a medical technology company, designs, develops, manufactures, and markets minimally invasive medical devices for the diagnosis and treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console with flow and pressure sensors that are used to assess the presence of collateral ventilation.

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Insider Buying and Selling by Quarter for Pulmonx (NASDAQ:LUNG)

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