Piper Sandler Reaffirms Overweight Rating for Pulmonx (NASDAQ:LUNG)

Piper Sandler reaffirmed their overweight rating on shares of Pulmonx (NASDAQ:LUNG - Free Report) in a research note published on Wednesday morning, Benzinga reports. They currently have a $17.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company reiterated an equal weight rating and set a $14.00 price target (down from $16.00) on shares of Pulmonx in a research note on Friday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Pulmonx from $15.00 to $17.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, Citigroup lifted their price objective on shares of Pulmonx from $16.00 to $17.00 and gave the company a buy rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $15.83.

Pulmonx Stock Down 6.6 %

Shares of Pulmonx stock traded down $0.56 during trading on Wednesday, hitting $7.95. 321,735 shares of the stock were exchanged, compared to its average volume of 494,536. The stock has a market cap of $306.39 million, a price-to-earnings ratio of -4.95 and a beta of 0.60. The firm's 50-day moving average price is $11.32 and its 200 day moving average price is $11.02. Pulmonx has a 12-month low of $7.75 and a 12-month high of $14.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.50 and a quick ratio of 5.77.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.02. Pulmonx had a negative net margin of 88.60% and a negative return on equity of 46.63%. The firm had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.24 million. During the same period last year, the business earned ($0.38) EPS. Pulmonx's revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, analysts forecast that Pulmonx will post -1.79 earnings per share for the current fiscal year.

Insider Transactions at Pulmonx

In other news, CEO Glendon E. French III sold 10,000 shares of the business's stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $12.77, for a total transaction of $127,700.00. Following the transaction, the chief executive officer now directly owns 1,141,344 shares in the company, valued at $14,574,962.88. 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 10,000 shares of the business's stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $12.77, for a total transaction of $127,700.00. Following the sale, the chief executive officer now owns 1,141,344 shares of the company's stock, valued at $14,574,962.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Glendon E. French III sold 20,000 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.60, for a total transaction of $292,000.00. Following the sale, the chief executive officer now directly owns 1,121,344 shares in the company, valued at approximately $16,371,622.40. The disclosure for this sale can be found here. Insiders have sold a total of 49,032 shares of company stock worth $603,390 over the last ninety days. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Pulmonx

A number of institutional investors have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc purchased a new stake in shares of Pulmonx in the third quarter valued at about $30,000. State of Wyoming purchased a new stake in shares of Pulmonx in the second quarter valued at about $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Pulmonx in the first quarter valued at about $40,000. Royal Bank of Canada lifted its holdings in shares of Pulmonx by 61.3% in the second quarter. Royal Bank of Canada now owns 3,092 shares of the company's stock valued at $41,000 after purchasing an additional 1,175 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Pulmonx by 499.0% in the fourth quarter. Barclays PLC now owns 9,284 shares of the company's stock valued at $79,000 after buying an additional 7,734 shares during the last quarter. Hedge funds and other institutional investors own 91.04% of the company's stock.

Pulmonx Company Profile

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.