Pulmonx (NASDAQ:LUNG) Stock Price Up 2.3% – Still a Buy?

Pulmonx Corporation (NASDAQ:LUNG)’s share price was up 2.3% during trading on Monday . The stock traded as high as $1.4050 and last traded at $1.36. Approximately 225,754 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 717,472 shares. The stock had previously closed at $1.33.

Wall Street Analyst Weigh In

Several equities analysts have commented on LUNG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pulmonx in a report on Thursday, January 22nd. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 price target on shares of Pulmonx in a report 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 report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.38.

Pulmonx Stock Performance

The stock has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $1.76. The stock has a market cap of $57.45 million, a price-to-earnings ratio of -1.02 and a beta of 0.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.28 and a current ratio of 5.07.

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. Pulmonx had a negative return on equity of 82.79% and a negative net margin of 59.67%.The company had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $21.73 million. Analysts expect that Pulmonx Corporation will post -1.55 EPS for the current fiscal year.

Insider Activity at Pulmonx

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Susquehanna Portfolio Strategies LLC bought a new position in shares of Pulmonx in the 4th quarter valued at $133,000. Engineers Gate Manager LP bought a new position in shares of Pulmonx in the 4th quarter valued at $106,000. ADAR1 Capital Management LLC lifted its stake in shares of Pulmonx by 65.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 355,410 shares of the company’s stock valued at $785,000 after acquiring an additional 140,913 shares during the last quarter. AQR Capital Management LLC raised its position in Pulmonx by 144.6% during the 4th quarter. AQR Capital Management LLC now owns 58,919 shares of the company’s stock worth $130,000 after purchasing an additional 34,828 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Pulmonx during the 4th quarter worth $31,000. 91.04% of the stock is currently owned by institutional investors.

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.