Pulmonx Co. (NASDAQ:LUNG) Short Interest Down 12.9% in October

Pulmonx Co. (NASDAQ:LUNGGet Rating) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,250,000 shares, a decline of 12.9% from the October 15th total of 3,730,000 shares. Based on an average daily volume of 476,200 shares, the days-to-cover ratio is currently 6.8 days. Approximately 10.1% of the shares of the company are sold short.

Analyst Ratings Changes

LUNG has been the subject of several analyst reports. Piper Sandler lowered their price objective on Pulmonx from $25.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Morgan Stanley cut their target price on Pulmonx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Pulmonx from $31.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.57.

Pulmonx Stock Down 8.6 %

LUNG stock opened at $5.52 on Thursday. The firm’s fifty day moving average is $14.45 and its 200 day moving average is $16.84. Pulmonx has a one year low of $4.07 and a one year high of $38.91. The firm has a market cap of $206.50 million, a PE ratio of -3.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.73 and a current ratio of 8.44.

Insider Buying and Selling

In related news, Director Richard Ferrari purchased 5,438 shares of the stock in a transaction on Tuesday, November 8th. The shares were purchased at an average cost of $5.31 per share, for a total transaction of $28,875.78. Following the completion of the transaction, the director now directly owns 30,035 shares of the company’s stock, valued at approximately $159,485.85. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Pulmonx news, Director Richard Ferrari purchased 5,438 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were bought at an average price of $5.31 per share, with a total value of $28,875.78. Following the completion of the transaction, the director now directly owns 30,035 shares in the company, valued at approximately $159,485.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glendon E. French III sold 25,000 shares of the 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 transaction, the chief executive officer now owns 1,027,944 shares of the company’s stock, valued at $20,558,880. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

A number of institutional investors have recently bought and sold shares of LUNG. State Street Corp grew its holdings in Pulmonx by 2.9% during the 3rd quarter. State Street Corp now owns 842,851 shares of the company’s stock worth $14,042,000 after acquiring an additional 23,367 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of Pulmonx during the 3rd quarter worth about $836,000. Vanguard Group Inc. boosted its position in shares of Pulmonx by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,151,742 shares of the company’s stock worth $52,509,000 after acquiring an additional 18,232 shares during the last quarter. PFM Health Sciences LP acquired a new stake in shares of Pulmonx in the third quarter worth approximately $3,327,000. Finally, Prelude Capital Management LLC purchased a new position in Pulmonx in the third quarter valued at approximately $362,000. 94.22% of the stock is owned by hedge funds and other institutional investors.

About Pulmonx

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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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