Pulmonx Corporation (NASDAQ:LUNG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Pulmonx Corporation (NASDAQ:LUNG) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.3786.

LUNG has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Pulmonx in a research note on Thursday, January 22nd. D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of Pulmonx in a research note on Thursday, March 5th. Finally, Canaccord Genuity Group cut their price target on Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, March 5th.

Pulmonx Stock Performance

NASDAQ LUNG opened at $1.36 on Tuesday. The company has a market cap of $57.45 million, a P/E ratio of -1.02 and a beta of 0.19. The company has a fifty day simple moving average of $1.51 and a 200 day simple moving average of $1.76. The company has a current ratio of 5.07, a quick ratio of 4.28 and a debt-to-equity ratio of 0.68. Pulmonx has a 12-month low of $1.13 and a 12-month high of $7.01.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.14. The business had revenue of $22.60 million during the quarter, compared to analyst estimates of $21.73 million. Pulmonx had a negative net margin of 59.67% and a negative return on equity of 82.79%. Sell-side analysts predict that Pulmonx will post -1.55 earnings per share for the current fiscal year.

Insider Transactions at Pulmonx

In other Pulmonx news, CEO Glendon E. French III sold 67,813 shares of Pulmonx stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $1.43, for a total transaction of $96,972.59. Following the completion of the transaction, the chief executive officer owned 1,409,511 shares in the company, valued at approximately $2,015,600.73. The trade was a 4.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 98,265 shares of company stock worth $140,519. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pulmonx

A number of hedge funds have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC boosted its stake in Pulmonx by 4.9% during the 3rd quarter. ADAR1 Capital Management LLC now owns 214,497 shares of the company’s stock valued at $347,000 after purchasing an additional 10,000 shares during the last quarter. Perkins Capital Management Inc. boosted its stake in Pulmonx by 110.0% during the 3rd quarter. Perkins Capital Management Inc. now owns 21,000 shares of the company’s stock valued at $34,000 after purchasing an additional 11,000 shares during the last quarter. Jain Global LLC boosted its stake in Pulmonx by 62.9% during the 4th quarter. Jain Global LLC now owns 30,566 shares of the company’s stock valued at $68,000 after purchasing an additional 11,800 shares during the last quarter. SG Americas Securities LLC boosted its stake in Pulmonx by 95.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,863 shares of the company’s stock valued at $40,000 after purchasing an additional 12,166 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in Pulmonx during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

About Pulmonx

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.