Brokerages Set Pulmonx Co. (NASDAQ:LUNG) Price Target at $13.36

Pulmonx Co. (NASDAQ:LUNG) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $13.36.

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

Insider Activity

In other news, Director Glendon E. French III sold 55,453 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.28, for a total value of $459,150.84. Following the transaction, the director now directly owns 1,011,974 shares of the company’s stock, valued at $8,379,144.72. This represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven S. Williamson sold 27,689 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.14, for a total transaction of $197,699.46. Following the sale, the chief executive officer now owns 194,342 shares of the company’s stock, valued at approximately $1,387,601.88. This represents a 12.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,986 shares of company stock valued at $1,143,673 over the last three months. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parkman Healthcare Partners LLC bought a new stake in Pulmonx in the 3rd quarter valued at $1,711,000. State Street Corp lifted its holdings in shares of Pulmonx by 2.6% during the third quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after buying an additional 18,592 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Pulmonx by 1.3% in the third quarter. Geode Capital Management LLC now owns 892,786 shares of the company’s stock valued at $7,403,000 after acquiring an additional 11,151 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Pulmonx in the third quarter valued at about $893,000. Finally, SG Americas Securities LLC increased its position in Pulmonx by 27.0% during the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock worth $106,000 after acquiring an additional 3,310 shares during the period. Institutional investors and hedge funds own 91.04% of the company’s stock.

Pulmonx Price Performance

Shares of NASDAQ LUNG opened at $6.82 on Friday. The company has a fifty day moving average price of $7.17 and a 200 day moving average price of $6.95. The firm has a market cap of $271.41 million, a PE ratio of -4.74 and a beta of 0.50. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. Pulmonx has a 1-year low of $5.46 and a 1-year high of $10.01.

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 return on equity of 55.36% and a negative net margin of 67.31%. The company had revenue of $23.77 million during the quarter, compared to analysts’ expectations of $22.29 million. Research analysts predict that Pulmonx will post -1.55 earnings per share 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.