Pulmonx Corporation (NASDAQ:LUNG) Receives Consensus Recommendation of “Hold” from Analysts

Pulmonx Corporation (NASDAQ:LUNG) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.5833.

A number of research analysts have recently commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Pulmonx in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Pulmonx from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd.

Pulmonx Price Performance

NASDAQ:LUNG opened at $1.57 on Wednesday. The firm has a market cap of $66.32 million, a price-to-earnings ratio of -1.21 and a beta of 0.18. The company has a current ratio of 4.91, a quick ratio of 4.04 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average is $1.36 and its two-hundred day moving average is $1.67. Pulmonx has a 12-month low of $1.13 and a 12-month high of $3.88.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.33). Pulmonx had a negative net margin of 60.09% and a negative return on equity of 92.94%. The company had revenue of $20.59 million for the quarter, compared to analyst estimates of $20.43 million. Research analysts expect that Pulmonx will post -1.13 EPS for the current year.

Insider Transactions at Pulmonx

In other Pulmonx news, CEO Glendon E. French III sold 67,813 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $1.43, for a total value of $96,972.59. Following the completion of the sale, the chief executive officer owned 1,409,511 shares of the company’s stock, valued at $2,015,600.73. This trade represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 98,265 shares of company stock valued at $140,519 over the last three months. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pulmonx

Several institutional investors and hedge funds have recently made changes to their positions in LUNG. XTX Topco Ltd purchased a new position in shares of Pulmonx during the 2nd quarter valued at approximately $149,000. Norges Bank bought a new position in Pulmonx during the second quarter worth $392,000. Jane Street Group LLC lifted its stake in Pulmonx by 3,328.7% in the second quarter. Jane Street Group LLC now owns 88,631 shares of the company’s stock valued at $230,000 after buying an additional 86,046 shares during the last quarter. Bank of America Corp DE lifted its stake in Pulmonx by 556.6% in the second quarter. Bank of America Corp DE now owns 481,268 shares of the company’s stock valued at $1,246,000 after buying an additional 407,971 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Pulmonx by 95.8% in the third quarter. SG Americas Securities LLC now owns 24,863 shares of the company’s stock valued at $40,000 after buying an additional 12,166 shares during the last quarter. 91.04% of the stock is currently owned by hedge funds and other 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.