Pulmonx Co. (NASDAQ:LUNG) Receives $12.07 Consensus Price Target from Analysts

Pulmonx Co. (NASDAQ:LUNG) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.07.

Several research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Pulmonx in a research note on Monday, March 10th. They set a “buy” rating for the company. Morgan Stanley assumed coverage on Pulmonx in a research note on Monday, March 10th. They set an “equal weight” rating for the company. Citigroup assumed coverage on Pulmonx in a research note on Monday, March 10th. They set a “buy” rating for the company. Piper Sandler reaffirmed an “overweight” rating and set a $9.00 target price (down from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group reduced their target price on Pulmonx from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 1st.

Insider Buying and Selling

In related news, General Counsel David Aaron Lehman sold 22,355 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.65, for a total transaction of $171,015.75. Following the completion of the sale, the general counsel now directly owns 175,496 shares in the company, valued at approximately $1,342,544.40. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glendon E. French III sold 55,453 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.28, for a total value of $459,150.84. Following the completion of the sale, the director now directly owns 1,011,974 shares of the company’s stock, valued at $8,379,144.72. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,660 shares of company stock worth $1,128,484. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Pulmonx

A number of hedge funds and other institutional investors have recently modified their holdings of LUNG. Charles Schwab Investment Management Inc. boosted its holdings in Pulmonx by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company’s stock valued at $2,142,000 after acquiring an additional 2,363 shares during the period. Rhumbline Advisers boosted its holdings in Pulmonx by 4.6% during the 1st quarter. Rhumbline Advisers now owns 55,958 shares of the company’s stock valued at $377,000 after acquiring an additional 2,455 shares during the period. American Century Companies Inc. boosted its holdings in Pulmonx by 8.8% during the 4th quarter. American Century Companies Inc. now owns 34,738 shares of the company’s stock valued at $236,000 after acquiring an additional 2,810 shares during the period. SG Americas Securities LLC boosted its holdings in Pulmonx by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock valued at $106,000 after acquiring an additional 3,310 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Pulmonx by 48.7% during the 4th quarter. Wells Fargo & Company MN now owns 18,418 shares of the company’s stock valued at $125,000 after acquiring an additional 6,033 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.

Pulmonx Trading Down 2.6%

Shares of NASDAQ:LUNG opened at $3.34 on Friday. Pulmonx has a 12-month low of $3.18 and a 12-month high of $9.37. The company has a market capitalization of $134.46 million, a PE ratio of -2.32 and a beta of 0.65. The business has a 50 day moving average of $5.43 and a two-hundred day moving average of $6.31. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. The company had revenue of $22.54 million during the quarter, compared to the consensus estimate of $22.03 million. As a group, analysts forecast that Pulmonx will post -1.55 EPS for the current year.

About Pulmonx

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of 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.