Pulmonx (LUNG)
Builds bronchoscopic emphysema treatments around Zephyr valves and patient-selection tools.
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Sells Zephyr endobronchial valves, delivery catheters, Chartis assessment tools, and LungTraX planning services for severe emphysema care. Revenue is concentrated in valve procedures, sold mainly through direct teams, with adoption shaped by physician training, patient selection, reimbursement, procedure risk, and device approvals.
Centers on the Zephyr Endobronchial Valve, Chartis Pulmonary Assessment System, and LungTraX planning platform for severe emphysema patients who remain highly symptomatic after medical management. The workflow uses bronchoscopic valve implants, collateral-ventilation assessment, and CT-based planning to select patients likely to respond.
Sells mainly to hospitals and distributors through a direct U.S. organization and a mix of direct teams and distributors overseas. Zephyr valves and delivery catheters provide most revenue, with Chartis and LungTraX supporting procedure adoption.
Execution depends on clinical evidence, physician training, hospital access, reimbursement, manufacturing, and regulatory approvals. AeriSeal is not approved for U.S. commercial sale and remains tied to clinical-trial progress. Procedure adoption is shaped by patient-selection discipline and complications such as pneumothorax.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Oct 28, 2025 | Lake Street | Reiterate | Rating: —Target: — | Target: $4 |
| Jul 31, 2025 | Piper Sandler | Downgrade | Target: $10 | Target: $2.50 |
| Dec 11, 2024 | Citigroup | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $55.8M · Total debt $56.2M · Total assets $114.7M · Shareholders' equity $39.2M
- Revenue
- $22.8M
- Operating income
- −$9.1M
- Net income
- −$10.1M
No dividends on record.
| Institutions | 61.03% | 26.21M shares | |
|---|---|---|---|
| 112 holders · as of Jun 30, 2026 | |||
| Insiders | 19.32% | 8.30M shares | |
| 15 holders · as of Sep 3, 2026 | |||
| Strategic holders | 3.46% | 1.49M shares | |
| 1 holder · as of Jul 14, 2021 | |||
| Other | 16.19% | 6.95M shares | |
| remainder | |||
42.95M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Primecap Management Co/CA/Institution | 10.74% | 4.61M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 6.81% | 2.92M | as of Jun 30, 2026 |
Soleus Capital Management, L.P.Institution | 6.49% | 2.79M | as of Jun 30, 2026 |
Soleus Capital Master Fund, L.P.Institution | 6.21% | 2.67M | filed Mar 9, 2026 |
Steven A. CohenInsider | 4.51% | 1.94M | filed Feb 29, 2024 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 1, 2026 | David Aaron Lehman | officer: General Counsel | −14,334 | $2.26 |
| Sep 1, 2026 | Srikanth Radhakrishnan | officer: Chief Science & Techn. Officer | −14,245 | $2.26 |
| Sep 1, 2026 | Glendon E. III French | director, officer: President and CEO | −41,882 | $2.26 |
| Sep 1, 2026 | Geoffrey Beran Rose | officer: Chief Commercial Officer | −7,879 | $2.26 |
| Mar 2, 2026 | David Aaron Lehman | officer: GENERAL COUNSEL | −12,237 | $1.43 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Pulmonx | $2.01 | −2.67% | $87.0M | — | — | 1.0 | −4.6% |
| GSK (ADR) | $49.81 | −1.79% | $101.62B | 16.1 | 9.2 | 2.3 | +5.3% |
| AstraZeneca (ADR) | $163.68 | −2.79% | $261.12B | 25.3 | 15.4 | 4.3 | +6.4% |
| Merck | $147.68 | −2.14% | $372.73B | 120.7 | 17.1 | 5.6 | +5.1% |
| Median | 25.3 | 15.4 | 4.3 | +5.3% |