Pulmonx Co. (NASDAQ:LUNG) Given Average Recommendation of “Moderate Buy” by Analysts

Pulmonx Co. (NASDAQ:LUNG) has received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.67.

Several equities research analysts have weighed in on LUNG shares. Canaccord Genuity Group boosted their price objective on Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price target on Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price target on Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st.

Insiders Place Their Bets

In related news, insider Geoffrey Beran Rose sold 4,586 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.70, for a total value of $30,726.20. Following the transaction, the insider now owns 295,433 shares of the company’s stock, valued at $1,979,401.10. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $6.52, for a total value of $130,400.00. Following the sale, the director now directly owns 1,091,974 shares of the company’s stock, valued at approximately $7,119,670.48. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,351 shares of company stock worth $361,494 over the last quarter. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Pulmonx

Several institutional investors and hedge funds have recently made changes to their positions in LUNG. FMR LLC increased its position in Pulmonx by 11.2% during 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 period. PFM Health Sciences LP acquired a new stake in Pulmonx in the third quarter worth about $3,058,000. Parkman Healthcare Partners LLC purchased a new stake in Pulmonx during the 3rd quarter worth approximately $1,711,000. Millrace Asset Group Inc. purchased a new stake in shares of Pulmonx during the third quarter valued at $1,390,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Pulmonx in the third quarter valued at about $893,000. 91.04% of the stock is currently owned by institutional investors.

Pulmonx Stock Performance

NASDAQ LUNG opened at $6.79 on Friday. The stock has a market capitalization of $268.14 million, a PE ratio of -4.62 and a beta of 0.68. Pulmonx has a 1-year low of $5.46 and a 1-year high of $14.84. The business has a 50 day simple moving average of $7.07 and a two-hundred day simple moving average of $7.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. The company had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $20.39 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, research analysts predict that Pulmonx will post -1.53 EPS for the current fiscal 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.