Pulmonx (NASDAQ:LUNG) Insider Srikanth Radhakrishnan Sells 14,245 Shares of Stock

by · The Cerbat Gem

Pulmonx Corporation (NASDAQ:LUNG – Get Free Report) insider Srikanth Radhakrishnan sold 14,245 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total transaction of $32,193.70. Following the sale, the insider directly owned 316,994 shares in the company, valued at approximately $716,406.44. The trade was a 4.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Pulmonx Price Performance

Shares of NASDAQ:LUNG traded down $0.02 on Thursday, reaching $2.26. The company’s stock had a trading volume of 284,129 shares, compared to its average volume of 512,534. The company has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $1.56. Pulmonx Corporation has a 52-week low of $1.13 and a 52-week high of $2.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.52 and a current ratio of 4.32. 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 – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. The firm had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $22.39 million. As a group, equities research analysts anticipate that Pulmonx Corporation will post -1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LUNG has been the subject of several analyst reports. Wall Street Zen raised Pulmonx from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings upgraded Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.67.

View Our Latest Report on LUNG

Hedge Funds Weigh In On Pulmonx

A number of large investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC grew its position in Pulmonx by 4.9% in the 3rd quarter. ADAR1 Capital Management LLC now owns 214,497 shares of the company’s stock valued at $347,000 after acquiring an additional 10,000 shares during the last quarter. Jain Global LLC lifted its position in shares of Pulmonx by 62.9% during the fourth quarter. Jain Global LLC now owns 30,566 shares of the company’s stock worth $68,000 after purchasing an additional 11,800 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Pulmonx during the fourth quarter worth $27,000. Algert Global LLC boosted its stake in shares of Pulmonx by 15.2% during the second quarter. Algert Global LLC now owns 98,332 shares of the company’s stock valued at $128,000 after purchasing an additional 12,970 shares during the period. Finally, Opal Capital LLC purchased a new stake in shares of Pulmonx during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Company Profile

(Get Free Report)

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.

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