Pulmonx (NASDAQ:LUNG) CEO Glendon French III Sells 41,882 Shares

Pulmonx Corporation (NASDAQ:LUNG) CEO Glendon French III sold 41,882 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $2.26, for a total transaction of $94,653.32. Following the transaction, the chief executive officer directly owned 1,137,936 shares in the company, valued at approximately $2,571,735.36. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pulmonx Price Performance

Shares of LUNG opened at $2.26 on Friday. Pulmonx Corporation has a 12 month low of $1.13 and a 12 month high of $2.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.32 and a quick ratio of 3.52. The stock has a fifty day moving average price of $1.81 and a 200 day moving average price of $1.56. The company has a market cap of $97.07 million, a P/E ratio of -1.95 and a beta of 0.34.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.24) earnings per share for the quarter, topping 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 net margin of 55.03% and a negative return on equity of 96.66%. On average, research analysts forecast that Pulmonx Corporation will post -1.05 earnings per share for the current year.

Key Stories Impacting Pulmonx

Here are the key news stories impacting Pulmonx this week:

• Neutral Sentiment: Four insiders, including CEO Glendon French, General Counsel David Lehman, Geoffrey Rose and Srikanth Radhakrishnan, sold a combined 78,340 shares at approximately $2.26 per share. The transactions were explicitly made to cover tax-withholding obligations tied to vested equity awards, reducing the likelihood that they represent a broad loss of confidence. The insiders continue to hold substantial positions. CEO SEC filing General Counsel SEC filing
• Negative Sentiment: Pulmonx shares have pulled back following a recent rally, suggesting profit-taking is weighing on the stock after its advance from recent lows. Pulmonx shares fall following recent gains
• Negative Sentiment: A tepid earnings outlook is adding to investor caution. Pulmonx remains unprofitable, and concerns about its near-term earnings trajectory may be encouraging investors to lock in gains rather than chase the stock higher. Pulmonx Stock Drops Sharply Amid Profit-Taking and Tepid Earnings Outlook

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Pulmonx from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings raised Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.67.

Hedge Funds Weigh In On Pulmonx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA bought a new stake in Pulmonx in the second quarter worth $5,996,000. ExodusPoint Capital Management LP acquired a new stake in shares of Pulmonx in the fourth quarter worth about $4,312,000. Bank of America Corp DE lifted its position in shares of Pulmonx by 60.3% in the first quarter. Bank of America Corp DE now owns 1,166,826 shares of the company’s stock worth $1,505,000 after buying an additional 439,027 shares during the last quarter. Almitas Capital LLC bought a new stake in shares of Pulmonx during the 2nd quarter worth about $1,383,000. Finally, BlackRock Inc. bought a new stake in shares of Pulmonx during the 2nd quarter worth about $1,147,000. 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.