Pulmonx Co. (NASDAQ:LUNG) Receives $11.53 Consensus PT from Analysts

Shares of Pulmonx Co. (NASDAQ:LUNG) have been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.53.

A number of research firms have commented on LUNG. Canaccord Genuity Group decreased their price target on Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley initiated coverage on Pulmonx in a report on Monday, March 10th. They issued an “equal weight” rating on the stock. D. Boral Capital reissued a “buy” rating and issued a $17.00 target price on shares of Pulmonx in a report on Thursday, May 1st. Citigroup decreased their price objective on shares of Pulmonx from $6.50 to $4.15 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st.

Insider Buying and Selling at Pulmonx

In related news, Director Glendon E. French III sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $7.85, for a total transaction of $157,000.00. Following the transaction, the director now owns 991,974 shares of the company’s stock, valued at $7,786,995.90. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel David Aaron Lehman sold 10,457 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $32,730.41. Following the transaction, the general counsel now directly owns 273,039 shares in the company, valued at approximately $854,612.07. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,388 shares of company stock worth $293,044 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

A number of hedge funds and other institutional investors have recently made changes to their positions in LUNG. SG Americas Securities LLC grew its holdings in shares of Pulmonx by 27.0% during the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock worth $106,000 after buying an additional 3,310 shares during the last quarter. Rhumbline Advisers boosted its holdings in Pulmonx by 4.9% in the 4th quarter. Rhumbline Advisers now owns 53,503 shares of the company’s stock valued at $363,000 after purchasing an additional 2,488 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Pulmonx by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company’s stock valued at $2,142,000 after purchasing an additional 2,363 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Pulmonx by 44.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,941 shares of the company’s stock valued at $570,000 after purchasing an additional 25,988 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Pulmonx by 8.8% in the 4th quarter. American Century Companies Inc. now owns 34,738 shares of the company’s stock valued at $236,000 after purchasing an additional 2,810 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Trading Down 3.5%

LUNG opened at $3.03 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. The business’s 50 day moving average price is $3.94 and its 200 day moving average price is $5.84. Pulmonx has a one year low of $2.83 and a one year high of $9.37. The stock has a market capitalization of $121.98 million, a PE ratio of -2.10 and a beta of 0.52.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $22.03 million. As a group, equities research analysts expect 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.