Pulmonx (NASDAQ:LUNG) Insider Geoffrey Beran Rose Sells 7,879 Shares of Stock

Pulmonx Corporation (NASDAQ:LUNG) insider Geoffrey Rose sold 7,879 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total value of $17,806.54. Following the completion of the sale, the insider directly owned 449,832 shares in the company, valued at $1,016,620.32. This represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pulmonx Trading Down 0.9%

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 firm has a 50 day moving average of $1.81 and a two-hundred day moving average of $1.56. The company has a quick ratio of 3.52, a current ratio of 4.32 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $97.07 million, a PE ratio of -1.95 and a beta of 0.34.

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

Key Headlines Impacting Pulmonx

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Wall Street Zen raised Pulmonx from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.67.

Hedge Funds Weigh In On Pulmonx

A number of institutional investors have recently modified their holdings of LUNG. XTX Topco Ltd acquired a new stake in Pulmonx during the 2nd quarter worth $149,000. Norges Bank acquired a new stake in shares of Pulmonx during the second quarter worth about $392,000. Jane Street Group LLC grew its holdings in shares of Pulmonx by 3,328.7% during the second quarter. Jane Street Group LLC now owns 88,631 shares of the company’s stock worth $230,000 after buying an additional 86,046 shares during the last quarter. Bank of America Corp DE increased its position in Pulmonx by 556.6% in the 2nd quarter. Bank of America Corp DE now owns 481,268 shares of the company’s stock valued at $1,246,000 after acquiring an additional 407,971 shares during the period. Finally, Two Sigma Investments LP increased its position in Pulmonx by 50.3% in the 3rd quarter. Two Sigma Investments LP now owns 46,456 shares of the company’s stock valued at $75,000 after acquiring an additional 15,557 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.

About Pulmonx

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.