Brokerages Set Pulmonx Co. (NASDAQ:LUNG) Price Target at $16.33

Shares of Pulmonx Co. (NASDAQ:LUNG) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $16.33.

Several equities research analysts have recently weighed in on LUNG shares. Stifel Nicolaus increased their price target on Pulmonx from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Canaccord Genuity Group dropped their price target on Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Citigroup raised their target price on Pulmonx from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $14.00 price target (down from $16.00) on shares of Pulmonx in a research report on Friday, February 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $17.00 price target on shares of Pulmonx in a research note on Wednesday, April 3rd.

Insiders Place Their Bets

In other Pulmonx news, insider Geoffrey Beran Rose sold 3,097 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $9.06, for a total value of $28,058.82. Following the transaction, the insider now directly owns 239,952 shares in the company, valued at $2,173,965.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel David Aaron Lehman sold 4,351 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $9.06, for a total value of $39,420.06. Following the sale, the general counsel now directly owns 145,488 shares in the company, valued at $1,318,121.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Geoffrey Beran Rose sold 3,097 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $9.06, for a total value of $28,058.82. Following the transaction, the insider now owns 239,952 shares of the company’s stock, valued at $2,173,965.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,032 shares of company stock valued at $469,012. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Pulmonx

Several large investors have recently added to or reduced their stakes in LUNG. Primecap Management Co. CA raised its position in Pulmonx by 2.2% in the 4th quarter. Primecap Management Co. CA now owns 5,646,451 shares of the company’s stock worth $71,992,000 after purchasing an additional 124,050 shares during the period. FMR LLC increased its holdings in shares of Pulmonx by 24.7% during the third quarter. FMR LLC now owns 2,029,835 shares of the company’s stock valued at $20,968,000 after acquiring an additional 401,830 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Pulmonx by 1.0% during the third quarter. Vanguard Group Inc. now owns 2,023,836 shares of the company’s stock valued at $20,906,000 after acquiring an additional 19,364 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Pulmonx by 6.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 989,423 shares of the company’s stock worth $9,172,000 after buying an additional 59,835 shares during the period. Finally, Walleye Capital LLC acquired a new position in Pulmonx in the 3rd quarter worth approximately $3,846,000. 91.04% of the stock is owned by institutional investors.

Pulmonx Stock Performance

Shares of NASDAQ:LUNG opened at $8.75 on Tuesday. The company has a quick ratio of 5.77, a current ratio of 6.50 and a debt-to-equity ratio of 0.30. The firm has a market cap of $337.23 million, a PE ratio of -5.68 and a beta of 0.66. The company’s 50 day moving average price is $8.54 and its two-hundred day moving average price is $10.73. Pulmonx has a 12-month low of $7.11 and a 12-month high of $14.84.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. Pulmonx had a negative return on equity of 46.61% and a negative net margin of 80.46%. The company had revenue of $18.85 million during the quarter, compared to analysts’ expectations of $17.54 million. During the same period in the prior year, the company earned ($0.42) EPS. Equities research analysts predict that Pulmonx will post -1.63 earnings per share 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.