Pulmonx (NASDAQ:LUNG) Issues Earnings Results, Beats Estimates By $0.07 EPS

Pulmonx (NASDAQ:LUNG) posted its quarterly earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.07, FiscalAI reports. Pulmonx had a negative net margin of 55.03% and a negative return on equity of 96.66%. The company had revenue of $22.84 million for the quarter, compared to analyst estimates of $21.93 million.

Pulmonx Stock Performance

LUNG stock traded up $0.03 during trading on Tuesday, hitting $1.98. 371,208 shares of the company traded hands, compared to its average volume of 472,060. The stock’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $1.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.32 and a quick ratio of 3.52. The company has a market cap of $85.04 million, a PE ratio of -1.71 and a beta of 0.33. Pulmonx has a 1 year low of $1.13 and a 1 year high of $2.89.

Insider Buying and Selling at Pulmonx

In other news, insider Srikanth Radhakrishnan sold 14,245 shares of the firm’s stock in a transaction that occurred 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 owned 316,994 shares of the company’s stock, valued at $716,406.44. This trade represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Glendon E. French III sold 41,882 shares of Pulmonx stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total transaction of $94,653.32. Following the transaction, the chief executive officer directly owned 1,137,936 shares of the company’s stock, valued at approximately $2,571,735.36. This trade represents a 3.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 78,340 shares of company stock valued at $177,048. 7.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.67.

About Pulmonx

Pulmonx Corporation is a medical device company focused on developing minimally invasive treatments for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD). The company’s technologies are designed to reduce hyperinflation in damaged portions of the lung and help improve breathing, exercise capacity and quality of life.

Pulmonx’s primary product is the Zephyr Endobronchial Valve, a bronchoscopically implanted, one-way valve intended for certain patients with severe emphysema.