Pulmonx Co. (NASDAQ:LUNG) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup cut Pulmonx from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $19.00 in a report on Monday, July 11th. Canaccord Genuity Group dropped their target price on Pulmonx from $34.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Morgan Stanley increased their target price on Pulmonx from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, August 4th. Piper Sandler dropped their price objective on Pulmonx from $37.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Finally, Stifel Nicolaus dropped their price objective on Pulmonx from $32.00 to $20.00 in a report on Monday, July 18th. 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.43.

Pulmonx Trading Down 2.5 %

NASDAQ LUNG opened at $17.83 on Tuesday. Pulmonx has a fifty-two week low of $13.79 and a fifty-two week high of $45.49. The stock has a market cap of $664.49 million, a P/E ratio of -12.21 and a beta of 1.58. The stock has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $20.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.49 and a current ratio of 9.43.

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, topping 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 period last year, the company posted ($0.34) earnings per share. On average, analysts forecast that Pulmonx will post -1.61 earnings per share for the current year.

Insider Transactions at Pulmonx

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LUNG. Deerfield Management Company L.P. Series C raised its position in shares of Pulmonx by 56.1% in the 1st quarter. Deerfield Management Company L.P. Series C now owns 3,695,341 shares of the company’s stock worth $91,681,000 after acquiring an additional 1,328,474 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of Pulmonx in the 4th quarter worth approximately $24,447,000. William Blair Investment Management LLC bought a new position in Pulmonx during the 1st quarter valued at approximately $17,214,000. Primecap Management Co. CA increased its position in Pulmonx by 10.2% during the 1st quarter. Primecap Management Co. CA now owns 5,445,991 shares of the company’s stock valued at $135,115,000 after buying an additional 502,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Pulmonx by 375.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 501,022 shares of the company’s stock valued at $12,430,000 after buying an additional 395,566 shares in the last quarter. Institutional investors own 94.22% of the company’s stock.

About Pulmonx

(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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