Pulmonx Co. (NASDAQ:LUNG) Receives $13.36 Consensus PT from Brokerages

Shares of Pulmonx Co. (NASDAQ:LUNG) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.36.

Several analysts recently issued reports on the stock. Citigroup initiated coverage on shares of Pulmonx in a research report on Monday, March 10th. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on Pulmonx in a report on Monday, March 10th. They issued a “buy” rating on the stock. Morgan Stanley started coverage on Pulmonx in a report on Monday, March 10th. They set an “equal weight” rating for the company. D. Boral Capital assumed coverage on Pulmonx in a research note on Monday, March 10th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, Director Glendon E. French III sold 55,453 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.28, for a total value of $459,150.84. Following the completion of the transaction, the director now directly owns 1,011,974 shares in the company, valued at approximately $8,379,144.72. This represents a 5.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mehul Joshi sold 14,384 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $7.12, for a total transaction of $102,414.08. Following the transaction, the chief financial officer now directly owns 113,986 shares of the company’s stock, valued at $811,580.32. The trade was a 11.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,986 shares of company stock worth $1,143,673. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pulmonx

A number of institutional investors have recently made changes to their positions in LUNG. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Pulmonx in the third quarter worth approximately $480,000. Charles Schwab Investment Management Inc. lifted its position in shares of Pulmonx by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 313,169 shares of the company’s stock worth $2,596,000 after purchasing an additional 15,543 shares during the period. FMR LLC boosted its stake in shares of Pulmonx by 11.2% in the 3rd quarter. FMR LLC now owns 5,872,882 shares of the company’s stock valued at $48,686,000 after purchasing an additional 591,859 shares during the last quarter. PDT Partners LLC increased its position in shares of Pulmonx by 25.3% during the third quarter. PDT Partners LLC now owns 88,074 shares of the company’s stock worth $730,000 after buying an additional 17,784 shares during the period. Finally, PFM Health Sciences LP acquired a new stake in shares of Pulmonx during the third quarter worth $3,058,000. Institutional investors own 91.04% of the company’s stock.

Pulmonx Stock Performance

LUNG opened at $6.82 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. Pulmonx has a 52-week low of $5.46 and a 52-week high of $10.01. The firm has a market cap of $271.41 million, a P/E ratio of -4.74 and a beta of 0.50. The business’s fifty day moving average is $7.17 and its 200-day moving average is $6.95.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. The business had revenue of $23.77 million during the quarter, compared to analysts’ expectations of $22.29 million. Sell-side analysts expect that Pulmonx will post -1.55 EPS for the current fiscal year.

Pulmonx Company Profile

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.