Glendon E. French III Sells 25,000 Shares of Pulmonx Co. (NASDAQ:LUNG) Stock

Pulmonx Co. (NASDAQ:LUNG) CEO Glendon E. French III sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 18th. The shares were sold at an average price of $35.98, for a total value of $899,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

NASDAQ:LUNG opened at $34.52 on Thursday. The company has a quick ratio of 9.57, a current ratio of 10.25 and a debt-to-equity ratio of 0.07. Pulmonx Co. has a 1-year low of $33.52 and a 1-year high of $69.48. The firm has a market capitalization of $1.27 billion and a price-to-earnings ratio of -28.06. The stock has a fifty day simple moving average of $38.93 and a 200 day simple moving average of $40.19.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings results on Monday, November 1st. The company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.09. Pulmonx had a negative return on equity of 20.53% and a negative net margin of 98.57%. The business had revenue of $13.26 million during the quarter, compared to analyst estimates of $13.36 million. During the same quarter last year, the company posted ($1.37) EPS. Equities analysts predict that Pulmonx Co. will post -1.35 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in LUNG. Bank of New York Mellon Corp boosted its position in Pulmonx by 10.4% during the 1st quarter. Bank of New York Mellon Corp now owns 33,111 shares of the company’s stock worth $1,514,000 after acquiring an additional 3,117 shares during the period. Nuveen Asset Management LLC boosted its position in Pulmonx by 6.1% during the 1st quarter. Nuveen Asset Management LLC now owns 61,925 shares of the company’s stock worth $2,832,000 after acquiring an additional 3,582 shares during the period. Ameriprise Financial Inc. boosted its position in Pulmonx by 4.0% during the 1st quarter. Ameriprise Financial Inc. now owns 49,425 shares of the company’s stock worth $2,261,000 after acquiring an additional 1,910 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Pulmonx by 94.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,923 shares of the company’s stock worth $32,838,000 after acquiring an additional 348,008 shares during the period. Finally, Royal Bank of Canada boosted 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 during the period. Hedge funds and other institutional investors own 75.82% of the company’s stock.

A number of research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on Pulmonx from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 3rd. Piper Sandler lowered their target price on Pulmonx from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, November 2nd. Canaccord Genuity lowered their target price on Pulmonx from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Finally, Zacks Investment Research lowered Pulmonx from a “buy” rating to a “hold” rating in a report on Saturday, November 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $55.25.

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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