Pulmonx (NASDAQ:LUNG) Insider Srikanth Radhakrishnan Sells 14,245 Shares of Stock

Pulmonx Corporation (NASDAQ:LUNG) insider Srikanth Radhakrishnan sold 14,245 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total transaction of $32,193.70. Following the sale, the insider owned 316,994 shares in the company, valued at approximately $716,406.44. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pulmonx Stock Performance

NASDAQ LUNG opened at $2.26 on Friday. Pulmonx Corporation has a 52-week low of $1.13 and a 52-week high of $2.89. The company has a fifty day moving average of $1.81 and a 200-day moving average of $1.56. The company has a market capitalization of $97.07 million, a P/E ratio of -1.95 and a beta of 0.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.52 and a current ratio of 4.32.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, July 29th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $22.39 million. Pulmonx had a negative return on equity of 96.66% and a negative net margin of 55.03%. As a group, equities research analysts predict that Pulmonx Corporation will post -1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on LUNG. Weiss Ratings upgraded Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded Pulmonx from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.67.

Key Pulmonx News

Here are the key news stories impacting Pulmonx this week:

• Positive Sentiment: Analysts maintain a generally favorable view of Pulmonx, with three Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $7.67. The company’s latest reported revenue of $22.76 million and loss of $0.24 per share also topped consensus estimates of $22.39 million and a $0.28-per-share loss. Pulmonx analyst and earnings information
• Neutral Sentiment: Four insiders—including CEO Glendon French III, General Counsel David Lehman, Geoffrey Rose and Srikanth Radhakrishnan—sold a combined 78,340 shares at approximately $2.26 per share. The filings state that the sales were made to cover tax-withholding obligations from vested equity awards, which reduces the likelihood that they signal a broad loss of confidence. The insiders still retain substantial holdings. Pulmonx insider sales report
• Neutral Sentiment: Institutional ownership remains high at approximately 91%, while several investment firms recently initiated small positions. These transactions may provide some ownership support but are not large enough, based on the available data, to materially change the near-term outlook. Pulmonx institutional ownership information
• Negative Sentiment: Recent gains appear to have prompted profit-taking, contributing to the stock’s retreat from its advance. Pulmonx shares fall following recent gains
• Negative Sentiment: Investor caution is heightened by Pulmonx’s “tepid” earnings outlook. The medical-device company remains loss-making, with analysts forecasting a full-year loss of approximately $1.05 per share, making sustained profitability and growth important catalysts for the stock. Pulmonx profit-taking and earnings outlook

Hedge Funds Weigh In On Pulmonx

Large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC bought a new stake in Pulmonx in the fourth quarter worth $27,000. Opal Capital LLC bought a new position in shares of Pulmonx during the fourth quarter valued at about $29,000. Lazard Asset Management LLC bought a new position in shares of Pulmonx during the fourth quarter valued at about $31,000. Jain Global LLC purchased a new position in shares of Pulmonx in the third quarter worth about $30,000. Finally, R Squared Ltd purchased a new position in shares of Pulmonx in the first quarter worth about $26,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

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.