Pulmonx Corporation (NASDAQ:LUNG) Short Interest Update

Pulmonx Corporation (NASDAQ:LUNG) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 2,857,097 shares, a decrease of 13.4% from the March 15th total of 3,299,976 shares. Currently, 7.3% of the shares of the company are sold short. Based on an average daily volume of 554,950 shares, the days-to-cover ratio is currently 5.1 days.

Insider Transactions at Pulmonx

In other Pulmonx news, CEO Glendon E. French III sold 67,813 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $1.43, for a total transaction of $96,972.59. Following the completion of the sale, the chief executive officer owned 1,409,511 shares of the company’s stock, valued at $2,015,600.73. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 98,265 shares of company stock worth $140,519 over the last three months. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LUNG. Cerity Partners LLC bought a new position in Pulmonx in the fourth quarter worth $27,000. Opal Capital LLC bought a new position in Pulmonx in the fourth quarter worth $29,000. FNY Investment Advisers LLC bought a new position in Pulmonx in the third quarter worth $29,000. Regatta Capital Group LLC bought a new position in Pulmonx in the fourth quarter worth $30,000. Finally, Jain Global LLC bought a new position in Pulmonx in the third quarter worth $30,000. 91.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LUNG shares. Canaccord Genuity Group reduced their price objective on Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. D. Boral Capital reiterated a “buy” rating and set a $14.00 target price on shares of Pulmonx in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pulmonx in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.38.

Pulmonx Stock Performance

NASDAQ:LUNG traded up $0.03 during trading hours on Friday, hitting $1.49. 131,410 shares of the company traded hands, compared to its average volume of 460,699. The stock has a market capitalization of $62.72 million, a price-to-earnings ratio of -1.12 and a beta of 0.19. Pulmonx has a twelve month low of $1.13 and a twelve month high of $5.46. The firm has a 50-day moving average of $1.47 and a 200 day moving average of $1.74. The company has a current ratio of 5.07, a quick ratio of 4.28 and a debt-to-equity ratio of 0.68.

Pulmonx (NASDAQ:LUNG) last issued its earnings results on Wednesday, March 4th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.14. The firm had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $21.73 million. Pulmonx had a negative return on equity of 82.79% and a negative net margin of 59.67%. On average, analysts forecast that Pulmonx will post -1.55 EPS for the current year.

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.