Pulmonx Co. (NASDAQ:LUNG) Short Interest Update

Pulmonx Co. (NASDAQ:LUNGGet Rating) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,160,000 shares, an increase of 7.8% from the August 15th total of 2,930,000 shares. Based on an average trading volume of 424,000 shares, the days-to-cover ratio is currently 7.5 days. Approximately 10.1% of the shares of the stock are sold short.

Pulmonx Stock Down 2.5 %

Shares of NASDAQ:LUNG opened at $17.83 on Tuesday. Pulmonx has a 1 year low of $13.79 and a 1 year high of $45.49. The business has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $20.17. The firm has a market capitalization of $664.49 million, a PE ratio of -12.21 and a beta of 1.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 9.43 and a quick ratio of 8.49.

Pulmonx (NASDAQ:LUNGGet Rating) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.01. Pulmonx had a negative return on equity of 28.60% and a negative net margin of 103.77%. During the same quarter last year, the firm earned ($0.34) earnings per share. On average, equities analysts predict that Pulmonx will post -1.61 EPS for the current year.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, CEO Glendon E. French III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $500,000.00. Following the sale, the chief executive officer now directly owns 1,027,944 shares of the company’s stock, valued at $20,558,880. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Glendon E. French III sold 50,000 shares of Pulmonx stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $20.59, for a total value of $1,029,500.00. Following the sale, the chief executive officer now directly owns 1,055,884 shares of the company’s stock, valued at $21,740,651.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glendon E. French III sold 25,000 shares of Pulmonx stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $20.00, for a total value of $500,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,027,944 shares in the company, valued at $20,558,880. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Institutional Trading of Pulmonx

A number of large investors have recently modified their holdings of LUNG. Principal Financial Group Inc. boosted its holdings in shares of Pulmonx by 132.5% in the fourth quarter. Principal Financial Group Inc. now owns 16,486 shares of the company’s stock valued at $529,000 after purchasing an additional 9,394 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Pulmonx by 70.1% in the fourth quarter. Renaissance Technologies LLC now owns 153,300 shares of the company’s stock valued at $4,916,000 after purchasing an additional 63,200 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Pulmonx by 26.6% in the fourth quarter. Point72 Asset Management L.P. now owns 317,907 shares of the company’s stock valued at $10,195,000 after purchasing an additional 66,707 shares during the period. Perceptive Advisors LLC purchased a new stake in shares of Pulmonx in the fourth quarter valued at approximately $24,447,000. Finally, Deerfield Management Company L.P. Series C boosted its holdings in shares of Pulmonx by 16.6% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,366,867 shares of the company’s stock valued at $75,905,000 after purchasing an additional 336,980 shares during the period. Hedge funds and other institutional investors own 94.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup cut Pulmonx from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $19.00 in a research note on Monday, July 11th. Piper Sandler reduced their price objective on Pulmonx from $37.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 3rd. Canaccord Genuity Group reduced their price objective on Pulmonx from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Stifel Nicolaus reduced their price objective on Pulmonx from $32.00 to $20.00 in a research note on Monday, July 18th. Finally, Morgan Stanley boosted their price objective on Pulmonx from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pulmonx currently has a consensus rating of “Hold” and an average price target of $24.43.

Pulmonx Company Profile

(Get Rating)

Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the 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 system with flow and pressure sensors that are used to assess the presence of collateral ventilation.

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