Pulmonx Corporation (NASDAQ:LUNG) Sees Significant Decrease in Short Interest

Pulmonx Corporation (NASDAQ:LUNG) saw a significant decline in short interest in March. As of March 31st, there was short interest totaling 2,857,097 shares, a decline of 13.4% from the March 15th total of 3,299,976 shares. Currently, 7.3% of the shares of the company are short sold. Based on an average daily volume of 554,950 shares, the short-interest ratio is presently 5.1 days.

Analysts Set New Price Targets

LUNG has been the topic of several analyst reports. D. Boral Capital reiterated a “buy” rating and set a $14.00 target price on shares of Pulmonx in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Pulmonx in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group lowered their price objective on Pulmonx from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pulmonx has a consensus rating of “Hold” and a consensus price target of $5.38.

Pulmonx Price Performance

Shares of Pulmonx stock opened at $1.47 on Friday. The stock’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.74. Pulmonx has a 52 week low of $1.13 and a 52 week high of $5.46. The company has a market capitalization of $62.09 million, a price-to-earnings ratio of -1.11 and a beta of 0.19. The company has a quick ratio of 4.28, a current ratio of 5.07 and a debt-to-equity ratio of 0.68.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.14. Pulmonx had a negative return on equity of 82.79% and a negative net margin of 59.67%.The business had revenue of $22.60 million for the quarter, compared to the consensus estimate of $21.73 million. As a group, analysts expect that Pulmonx will post -1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Glendon E. French III sold 67,813 shares of Pulmonx stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $1.43, for a total transaction of $96,972.59. Following the transaction, the chief executive officer directly owned 1,409,511 shares in the company, valued at approximately $2,015,600.73. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 98,265 shares of company stock worth $140,519 in the last quarter. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pulmonx

Several large investors have recently made changes to their positions in the company. ExodusPoint Capital Management LP bought a new stake in shares of Pulmonx in the fourth quarter worth about $4,312,000. Vestal Point Capital LP bought a new stake in shares of Pulmonx in the third quarter worth about $1,345,000. State Street Corp increased its holdings in shares of Pulmonx by 3.6% in the fourth quarter. State Street Corp now owns 821,217 shares of the company’s stock worth $1,815,000 after purchasing an additional 28,813 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Pulmonx by 78.3% in the third quarter. GSA Capital Partners LLP now owns 755,467 shares of the company’s stock worth $1,224,000 after purchasing an additional 331,742 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Pulmonx by 556.6% in the second quarter. Bank of America Corp DE now owns 481,268 shares of the company’s stock worth $1,246,000 after purchasing an additional 407,971 shares during the last quarter. 91.04% of the stock is owned by institutional investors.

Pulmonx Company Profile

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.