Lake Street Capital Cuts Pulmonx (NASDAQ:LUNG) Price Target to $8.00

Key Points

• Lake Street Capital has significantly lowered its price target for Pulmonx (NASDAQ:LUNG) from $12.00 to $8.00, while still maintaining a "buy" rating on the stock, indicating a potential upside of 334.78% from its current price.
• Other analysts have issued varying price targets for Pulmonx, with Stifel Nicolaus setting a target of $5.00 and Canaccord Genuity reducing theirs to $15.00, reflecting mixed sentiment among financial analysts.
• Despite the price target reductions, Pulmonx's stock has experienced high trading volume recently, with nearly 4.63 million shares exchanged during trading on Thursday.

Pulmonx (NASDAQ:LUNG - Get Free Report) had its target price cut by equities researchers at Lake Street Capital from $12.00 to $8.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Lake Street Capital's price objective would suggest a potential upside of 371.98% from the company's previous close.

Several other research analysts also recently issued reports on LUNG. Piper Sandler downgraded Pulmonx from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $9.00 to $2.50 in a research note on Thursday. Citigroup cut their price target on Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Stifel Nicolaus cut their price target on Pulmonx from $16.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday. D. Boral Capital cut their price target on Pulmonx from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group cut their price target on Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Pulmonx has a consensus rating of "Hold" and a consensus target price of $7.66.

Pulmonx Price Performance

Shares of NASDAQ LUNG traded up $0.09 during trading on Thursday, hitting $1.70. 730,546 shares of the company were exchanged, compared to its average volume of 405,007. The company has a market cap of $68.24 million, a price-to-earnings ratio of -1.19 and a beta of 0.43. Pulmonx has a 1 year low of $1.59 and a 1 year high of $9.37. The firm's fifty day moving average price is $2.91 and its 200 day moving average price is $4.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.97 and a quick ratio of 4.29.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.02. The business had revenue of $23.86 million during the quarter, compared to the consensus estimate of $23.46 million. Pulmonx had a negative return on equity of 66.36% and a negative net margin of 62.88%. On average, sell-side analysts expect that Pulmonx will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pulmonx news, General Counsel David Aaron Lehman sold 10,457 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.13, for a total value of $32,730.41. Following the transaction, the general counsel directly owned 273,039 shares in the company, valued at approximately $854,612.07. This represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mehul Joshi sold 8,061 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.13, for a total transaction of $25,230.93. Following the completion of the transaction, the chief financial officer owned 213,925 shares in the company, valued at approximately $669,585.25. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,388 shares of company stock worth $136,044 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LUNG. R Squared Ltd acquired a new position in shares of Pulmonx during the 2nd quarter valued at about $41,000. BNP Paribas Financial Markets acquired a new position in shares of Pulmonx during the 4th quarter valued at about $43,000. ProShare Advisors LLC acquired a new position in shares of Pulmonx during the 4th quarter valued at about $72,000. Stifel Financial Corp acquired a new position in shares of Pulmonx during the 4th quarter valued at about $81,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Pulmonx during the 1st quarter valued at about $82,000. Institutional investors and hedge funds own 91.04% of the company's stock.

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.