Insider Selling: Pulmonx Co. (NASDAQ:LUNG) Insider Sells 1,011 Shares of Stock
Pulmonx Co. (NASDAQ:LUNG – Get Rating) insider Geoffrey Beran Rose sold 1,011 shares of Pulmonx stock in a transaction on Wednesday, June 1st. 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’s stock, valued at $3,305,279.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
LUNG stock traded down $0.59 during mid-day trading on Friday, hitting $18.50. 256,591 shares of the stock were exchanged, compared to its average volume of 467,950. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.33 and a quick ratio of 10.30. The business 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-to-earnings ratio of -13.21 and a beta of 1.69.
Pulmonx (NASDAQ:LUNG – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. 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 firm had revenue of $10.79 million for the quarter, compared to the consensus estimate of $9.26 million. During the same period last year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities analysts forecast that Pulmonx Co. will post -1.6 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its stake in shares of Pulmonx by 10.2% in the 1st quarter. Primecap Management Co. CA now owns 5,445,991 shares of the company’s stock valued at $135,115,000 after acquiring an additional 502,100 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in shares of Pulmonx by 56.1% in the 1st quarter. Deerfield Management Company L.P. Series C now owns 3,695,341 shares of the company’s stock valued at $91,681,000 after acquiring an additional 1,328,474 shares during the last quarter. Capital World Investors lifted its stake in shares of Pulmonx by 7.0% in the 1st quarter. Capital World Investors now owns 2,946,500 shares of the company’s stock valued at $73,103,000 after acquiring an additional 192,000 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Pulmonx by 1.5% in the 1st quarter. BlackRock Inc. now owns 2,760,055 shares of the company’s stock valued at $68,477,000 after acquiring an additional 41,724 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Pulmonx by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,616,519 shares of the company’s stock valued at $64,916,000 after acquiring an additional 92,031 shares during the last quarter. 92.85% of the stock is owned by institutional investors.
LUNG has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Pulmonx from $55.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, February 24th. Bank of America initiated coverage on Pulmonx in a research note on Wednesday, March 2nd. They set a “neutral” rating and a $28.00 price objective for the company. Canaccord Genuity Group dropped their price objective on Pulmonx from $53.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, February 28th. Citigroup dropped their price objective on Pulmonx from $32.00 to $23.00 in a research note on Tuesday, May 17th. Finally, Morgan Stanley dropped their price objective on Pulmonx from $37.00 to $30.00 and set an “equal weight” rating for the company in a research note on Friday, February 25th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Pulmonx has an average rating of “Hold” and an average target price of $35.00.
Pulmonx Company Profile (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.
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