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

Shares of Pulmonx Co. (NASDAQ:LUNG) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $15.00.

LUNG has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Pulmonx from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Craig Hallum initiated coverage on shares of Pulmonx in a research report on Tuesday. They issued a “buy” rating and a $18.00 target price for the company. Finally, Citigroup upped their target price on shares of Pulmonx from $14.00 to $16.00 in a research report on Monday, July 10th.

Insider Transactions at Pulmonx

In other news, General Counsel David Aaron Lehman sold 3,772 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $10.01, for a total value of $37,757.72. Following the completion of the sale, the general counsel now directly owns 153,648 shares of the company’s stock, valued at approximately $1,538,016.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Glendon E. French III sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $12.68, for a total transaction of $190,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,174,547 shares of the company’s stock, valued at $14,893,255.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel David Aaron Lehman sold 3,772 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $10.01, for a total transaction of $37,757.72. Following the sale, the general counsel now directly owns 153,648 shares of the company’s stock, valued at $1,538,016.48. The disclosure for this sale can be found here. In the last three months, insiders sold 43,545 shares of company stock valued at $503,221. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Pulmonx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in Pulmonx by 229.9% during the first quarter. US Bancorp DE now owns 2,316 shares of the company’s stock valued at $26,000 after purchasing an additional 1,614 shares during the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of Pulmonx during the third quarter valued at approximately $30,000. State of Wyoming acquired a new stake in shares of Pulmonx during the second quarter valued at approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Pulmonx during the first quarter valued at approximately $40,000. Finally, Royal Bank of Canada raised its holdings in shares of Pulmonx by 61.3% during the second quarter. Royal Bank of Canada now owns 3,092 shares of the company’s stock valued at $41,000 after acquiring an additional 1,175 shares during the period. 88.09% of the stock is owned by institutional investors and hedge funds.

Pulmonx Price Performance

Shares of NASDAQ:LUNG opened at $11.15 on Thursday. The company has a quick ratio of 7.62, a current ratio of 8.42 and a debt-to-equity ratio of 0.28. Pulmonx has a fifty-two week low of $4.07 and a fifty-two week high of $20.86. The firm has a 50-day simple moving average of $12.06 and a 200 day simple moving average of $11.91. The company has a market cap of $424.03 million, a PE ratio of -6.93 and a beta of 0.47.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.43) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.43). Pulmonx had a negative net margin of 99.76% and a negative return on equity of 40.65%. The business had revenue of $17.20 million during the quarter, compared to the consensus estimate of $15.86 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Pulmonx will post -1.69 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. It 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.