Pulmonx Co. (NASDAQ:LUNG) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Pulmonx Co. (NASDAQ:LUNG - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $11.59.

Several equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating on the stock. Citigroup lowered their target price on shares of Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research note on Thursday. Canaccord Genuity Group reduced their price objective on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Piper Sandler restated an "overweight" rating and set a $9.00 price objective (down previously from $10.00) on shares of Pulmonx in a research report on Thursday, May 1st. Finally, Jefferies Financial Group initiated coverage on shares of Pulmonx in a research report on Monday, March 10th. They set a "buy" rating for the company.

Pulmonx Stock Performance

Shares of LUNG stock traded down $0.02 during trading hours on Friday, reaching $3.12. The stock had a trading volume of 227,148 shares, compared to its average volume of 314,604. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. Pulmonx has a twelve month low of $3.06 and a twelve month high of $9.37. The firm has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $6.24. The firm has a market capitalization of $125.60 million, a PE ratio of -2.17 and a beta of 0.65.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. The business had revenue of $22.54 million for the quarter, compared to analysts' expectations of $22.03 million. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. As a group, equities analysts forecast that Pulmonx will post -1.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mehul Joshi sold 14,384 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $7.12, for a total value of $102,414.08. Following the completion of the sale, the chief financial officer now directly owns 113,986 shares of the company's stock, valued at $811,580.32. This represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David Aaron Lehman sold 22,355 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.65, for a total transaction of $171,015.75. Following the completion of the sale, the general counsel now directly owns 175,496 shares of the company's stock, valued at $1,342,544.40. This trade represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,207 shares of company stock worth $669,334 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Pulmonx

A number of hedge funds have recently made changes to their positions in LUNG. Deerfield Management Company L.P. Series C purchased a new stake in shares of Pulmonx in the fourth quarter worth approximately $10,421,000. Parkman Healthcare Partners LLC raised its position in Pulmonx by 194.4% during the first quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock valued at $4,118,000 after acquiring an additional 404,022 shares in the last quarter. Altium Capital Management LLC raised its position in Pulmonx by 63.0% during the fourth quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock valued at $5,534,000 after acquiring an additional 315,000 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Pulmonx during the first quarter valued at approximately $2,041,000. Finally, Nuveen LLC bought a new position in Pulmonx during the first quarter valued at approximately $1,336,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

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.