Insider Selling: Pulmonx Co. (NASDAQ: LUNG) Insider Sells 1,011 Shares
Pulmonx Co. (NASDAQ: LUNG – Get a rating) insider Geoffrey Beran Rose sold 1,011 Pulmonx shares in a trade on Wednesday, June 1. The shares were sold at an average price of $18.05, for a total value of $18,248.55. Following the completion of the transaction, the insider now owns 183,118 shares of the company, valued at $3,305,279.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link.
LUNG stock traded at $0.59 at midday on Friday, hitting $18.50. 256,591 shares were traded, against an average volume of 467,950. The company has a leverage ratio of 0.09, a current ratio of 11.33 and a quick ratio of 10.30. The company has a fifty-day moving average price of $22.67 and a 200-day moving average price of $26.52. Pulmonx Co. has a 12-month low of $15.06 and a 12-month high of $45.81. The stock has a market capitalization of $686.66 million, a price-earnings ratio of -13.21 and a beta of 1.69.
Lungx (NASDAQ: LUNG – Get a rating) last released its quarterly results on Tuesday, May 3. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.06). Pulmonx had a negative return on equity of 26.08% and a negative net margin of 102.87%. The company posted revenue of $10.79 million for the quarter, versus a consensus estimate of $9.26 million. During the same period last year, the company achieved EPS of ($0.34). The company’s revenue for the quarter increased 16.7% year over year. As a group, equity analysts expect Pulmonx Co. to post -1.6 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. Primecap Management Co. CA increased its stake in Pulmonx by 10.2% in the 1st quarter. Primecap Management Co. CA now owns 5,445,991 shares of the company valued at $135,115,000 after acquiring an additional 502,100 shares in the last quarter. Deerfield Management Company LP Series C increased its stake in Pulmonx shares by 56.1% in Q1. Deerfield Management Company LP Series C now owns 3,695,341 shares of the company valued at $91,681,000 after acquiring an additional 1,328,474 shares in the last quarter. Capital World Investors increased its holding in Pulmonx shares by 7.0% in the 1st quarter. Capital World Investors now owns 2,946,500 shares of the company valued at $73,103,000 after acquiring an additional 192,000 shares in the last quarter. BlackRock Inc. increased its stake in Pulmonx shares by 1.5% in Q1. BlackRock Inc. now owns 2,760,055 shares of the company valued at $68,477,000 after acquiring 41,724 additional shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Pulmonx by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,616,519 shares of the company valued at $64,916,000 after acquiring 92,031 additional shares in the last quarter. 92.85% of the shares are held by institutional investors.
LUNG has been the subject of several research analyst reports. Wells Fargo & Company lowered its price target on Pulmonx from $55.00 to $27.00 and set an “equal weight” rating for the company in a Thursday, Feb. 24 research note. Bank of America launched coverage on Pulmonx in a Wednesday, March 2 research note. They set a “neutral” rating and a price target of $28.00 for the company. Canaccord Genuity Group lowered its price target on Pulmonx from $53.00 to $34.00 and set a “buy” rating for the company in a Monday, February 28 research note. Citigroup lowered its price target on Pulmonx from $32.00 to $23.00 in a Tuesday, May 17 research note. Finally, Morgan Stanley lowered its price target on Pulmonx from $37.00 to $30.00 and set an “equal weight” rating for the company in a Friday, Feb. 25 research note. Four research analysts gave the stock a hold rating and three gave the stock a buy rating. Based on MarketBeat data, Pulmonx has an average rating of “Hold” and an average target price of $35.00.
Pulmonx Company Profile (Get a rating)
Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary disease. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopy in adult patients with hyperinflation associated with severe emphysema; and the 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.
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