Glendon E. French III Sells 6,533 Shares of Pulmonx Co. (NASDAQ:LUNG) Stock

Posted by on Jun 4th, 2023

Pulmonx Co. (NASDAQ:LUNG – Get Rating) CEO Glendon E. French III sold 6,533 shares of Pulmonx stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $11.48, for a total transaction of $74,998.84. Following the transaction, the chief executive officer now directly owns 1,199,547 shares of the company’s stock, valued at $13,770,799.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pulmonx Price Performance

Shares of LUNG stock opened at $12.78 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.61 and a quick ratio of 9.70. The company has a market capitalization of $482.45 million, a P/E ratio of -8.09 and a beta of 0.32. The company’s 50-day simple moving average is $11.84 and its two-hundred day simple moving average is $9.75. Pulmonx Co. has a one year low of $4.07 and a one year high of $24.49.

Pulmonx (NASDAQ:LUNG – Get Rating) last issued its earnings results on Tuesday, May 2nd. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.01. The business had revenue of $14.50 million for the quarter, compared to the consensus estimate of $13.49 million. Pulmonx had a negative net margin of 102.69% and a negative return on equity of 37.22%. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) EPS. As a group, equities analysts anticipate that Pulmonx Co. will post -1.7 EPS for the current year.

Institutional Investors Weigh In On Pulmonx

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Pulmonx by 156.4% in the 1st quarter. JPMorgan Chase & Co. now owns 148,218 shares of the company’s stock worth $1,658,000 after purchasing an additional 90,404 shares during the period. State Street Corp lifted its position in shares of Pulmonx by 50.9% in the 1st quarter. State Street Corp now owns 946,977 shares of the company’s stock worth $10,587,000 after purchasing an additional 319,587 shares during the period. Geode Capital Management LLC lifted its position in shares of Pulmonx by 6.1% in the 1st quarter. Geode Capital Management LLC now owns 700,142 shares of the company’s stock worth $7,828,000 after purchasing an additional 40,546 shares during the period. Two Sigma Advisers LP lifted its position in shares of Pulmonx by 290.4% in the 1st quarter. Two Sigma Advisers LP now owns 271,300 shares of the company’s stock worth $3,033,000 after purchasing an additional 201,800 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of Pulmonx by 129.9% in the 1st quarter. Two Sigma Investments LP now owns 305,271 shares of the company’s stock worth $3,413,000 after purchasing an additional 172,493 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Analyst Ratings Changes

LUNG has been the topic of several analyst reports. Wells Fargo & Company upgraded shares of Pulmonx from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $10.00 to $15.00 in a report on Monday, February 27th. Morgan Stanley upped their price target on shares of Pulmonx from $9.50 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, February 23rd. Canaccord Genuity Group upped their price target on shares of Pulmonx from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Piper Sandler upped their price target on shares of Pulmonx from $13.00 to $15.00 in a report on Wednesday, May 3rd. Finally, Citigroup upped their price target on shares of Pulmonx from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, April 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.75.

About Pulmonx

(Get Rating)

Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the 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 system with flow and pressure sensors that are used to assess the presence of collateral ventilation.

Featured Stories

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

Receive News & Ratings for Pulmonx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pulmonx and related companies with MarketBeat.com's FREE daily email newsletter.