Scientific Corp Boston Sells 650,000 Shares of Pulmonx Co. (NASDAQ:LUNG) Stock

Pulmonx Co. (NASDAQ:LUNG) major shareholder Scientific Corp Boston sold 650,000 shares of the business’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $43.60, for a total transaction of $28,340,000.00. Following the transaction, the insider now owns 3,988,106 shares in the company, valued at approximately $173,881,421.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of LUNG stock traded down $0.93 during mid-day trading on Thursday, hitting $45.42. 33,092 shares of the stock traded hands, compared to its average volume of 241,766. The stock’s fifty day moving average price is $54.12. Pulmonx Co. has a 52-week low of $37.64 and a 52-week high of $69.48.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings results on Monday, March 1st. The company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. The firm had revenue of $9.83 million for the quarter, compared to analysts’ expectations of $8.70 million. As a group, sell-side analysts expect that Pulmonx Co. will post -1.34 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Eaton Vance Management acquired a new position in shares of Pulmonx during the fourth quarter valued at about $6,902,000. Alyeska Investment Group L.P. acquired a new position in shares of Pulmonx during the fourth quarter valued at about $5,859,000. PFM Health Sciences LP acquired a new position in shares of Pulmonx during the fourth quarter valued at about $20,260,000. JPMorgan Chase & Co. acquired a new position in shares of Pulmonx during the fourth quarter valued at about $1,909,000. Finally, Orbimed Advisors LLC acquired a new position in shares of Pulmonx during the fourth quarter valued at about $8,628,000.

LUNG has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Pulmonx in a research note on Wednesday, March 31st. They set a “neutral” rating and a $50.00 target price for the company. Bank of America raised shares of Pulmonx from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, March 16th. Citigroup began coverage on shares of Pulmonx in a research note on Thursday, April 1st. They issued a “buy” rating and a $60.00 price objective for the company. Morgan Stanley upped their price objective on shares of Pulmonx from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 9th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on shares of Pulmonx in a research note on Thursday, April 1st. They issued a “buy” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Pulmonx currently has a consensus rating of “Hold” and an average target price of $58.00.

About Pulmonx

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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