Insider Selling: Pulmonx Co. (NASDAQ:LUNG) CFO Sells 5,000 Shares of Stock

Pulmonx Co. (NASDAQ:LUNG) CFO Derrick Sung sold 5,000 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $47.60, for a total value of $238,000.00. Following the sale, the chief financial officer now directly owns 223,879 shares of the company’s stock, valued at approximately $10,656,640.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NASDAQ:LUNG opened at $46.35 on Thursday. Pulmonx Co. has a one year low of $37.64 and a one year high of $69.48. The stock has a 50-day simple moving average of $54.12.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Monday, March 1st. The company reported ($0.27) earnings per share (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 analyst estimates of $8.70 million. Analysts forecast that Pulmonx Co. will post -1.34 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC acquired a new stake in Pulmonx during the fourth quarter valued at approximately $10,813,000. Caas Capital Management LP acquired a new stake in Pulmonx during the fourth quarter valued at approximately $4,831,000. Bank of New York Mellon Corp acquired a new stake in Pulmonx during the fourth quarter valued at approximately $2,070,000. Victory Capital Management Inc. acquired a new stake in Pulmonx during the fourth quarter valued at approximately $2,237,000. Finally, BlackRock Inc. acquired a new stake in Pulmonx during the fourth quarter valued at approximately $58,708,000.

Several equities research analysts have recently weighed in on LUNG shares. Piper Sandler started coverage on Pulmonx in a research report on Wednesday, March 31st. They issued a “neutral” rating and a $50.00 target price for the company. Morgan Stanley upped their target price on Pulmonx from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 9th. Bank of America raised Pulmonx from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Tuesday, March 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on Pulmonx in a research report on Thursday, April 1st. They issued a “buy” rating and a $60.00 target price for the company. Finally, Zacks Investment Research downgraded Pulmonx from a “hold” rating to a “sell” rating in a research report on Friday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target 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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