Steven S. Williamson Sells 9,923 Shares of Pulmonx Co. (NASDAQ:LUNG) Stock

Pulmonx Co. (NASDAQ:LUNG) CEO Steven S. Williamson sold 9,923 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.13, for a total value of $31,058.99. Following the transaction, the chief executive officer now directly owns 366,115 shares in the company, valued at approximately $1,145,939.95. The trade was a 2.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Pulmonx Trading Down 3.1%

NASDAQ:LUNG opened at $3.08 on Thursday. Pulmonx Co. has a one year low of $2.83 and a one year high of $9.37. The business has a fifty day moving average price of $4.42 and a 200-day moving average price of $5.99. The firm has a market capitalization of $123.99 million, a price-to-earnings ratio of -2.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. The business had revenue of $22.54 million during the quarter, compared to analysts’ expectations of $22.03 million. Sell-side analysts forecast that Pulmonx Co. will post -1.55 EPS for the current year.

Institutional Trading of Pulmonx

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Pulmonx by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company’s stock worth $2,142,000 after acquiring an additional 2,363 shares during the period. Rhumbline Advisers boosted its stake in Pulmonx by 4.6% in the 1st quarter. Rhumbline Advisers now owns 55,958 shares of the company’s stock worth $377,000 after purchasing an additional 2,455 shares during the period. American Century Companies Inc. grew its holdings in Pulmonx by 8.8% during the 4th quarter. American Century Companies Inc. now owns 34,738 shares of the company’s stock valued at $236,000 after buying an additional 2,810 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Pulmonx by 27.0% during the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock valued at $106,000 after buying an additional 3,310 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Pulmonx by 48.7% in the fourth quarter. Wells Fargo & Company MN now owns 18,418 shares of the company’s stock worth $125,000 after buying an additional 6,033 shares in the last quarter. 91.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LUNG has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating for the company. D. Boral Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Pulmonx in a research report on Thursday, May 1st. Morgan Stanley started coverage on Pulmonx in a report on Monday, March 10th. They set an “equal weight” rating on the stock. Canaccord Genuity Group cut their price objective on Pulmonx from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.53.

About Pulmonx

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of 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.