Brokerages Set Pulmonx Co. (NASDAQ:LUNG) Target Price at $11.53

Pulmonx Co. (NASDAQ:LUNG - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $11.53.

LUNG has been the topic of several recent research reports. Canaccord Genuity Group lowered their price objective on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Piper Sandler restated an "overweight" rating and issued a $9.00 price objective (down from $10.00) on shares of Pulmonx in a research report on Thursday, May 1st. Morgan Stanley initiated coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued an "equal weight" rating on the stock. Jefferies Financial Group started coverage on Pulmonx in a report on Monday, March 10th. They set a "buy" rating for the company. Finally, D. Boral Capital restated a "buy" rating and set a $17.00 price objective on shares of Pulmonx in a research report on Thursday, May 1st.

Insiders Place Their Bets

In other news, General Counsel David Aaron Lehman sold 10,457 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $32,730.41. Following the completion of the transaction, the general counsel now directly owns 273,039 shares of the company's stock, valued at approximately $854,612.07. The trade was a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel P. Florin bought 23,321 shares of Pulmonx stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $3.06 per share, with a total value of $71,362.26. Following the completion of the acquisition, the director now directly owns 117,231 shares of the company's stock, valued at $358,726.86. This represents a 24.83% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 55,388 shares of company stock worth $267,764 over the last quarter. Company insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Pulmonx

Several institutional investors have recently bought and sold shares of LUNG. Charles Schwab Investment Management Inc. grew its stake in shares of Pulmonx by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company's stock worth $2,142,000 after acquiring an additional 2,363 shares during the last quarter. Rhumbline Advisers boosted its holdings in Pulmonx by 4.6% during the first quarter. Rhumbline Advisers now owns 55,958 shares of the company's stock worth $377,000 after buying an additional 2,455 shares in the last quarter. American Century Companies Inc. grew its position in shares of Pulmonx by 8.8% during the 4th quarter. American Century Companies Inc. now owns 34,738 shares of the company's stock valued at $236,000 after acquiring an additional 2,810 shares during the period. SG Americas Securities LLC lifted its position in shares of Pulmonx by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock valued at $106,000 after buying an additional 3,310 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Pulmonx by 48.7% in the fourth quarter. Wells Fargo & Company MN now owns 18,418 shares of the company's stock valued at $125,000 after purchasing an additional 6,033 shares during the period. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Pulmonx Stock Down 4.1%

Shares of NASDAQ:LUNG traded down $0.14 during trading on Wednesday, reaching $3.26. 420,978 shares of the stock traded hands, compared to its average volume of 317,040. The stock has a market cap of $131.24 million, a P/E ratio of -2.26 and a beta of 0.52. The stock has a 50-day moving average of $4.13 and a two-hundred day moving average of $5.91. Pulmonx has a 52-week low of $2.83 and a 52-week high of $9.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70.

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, beating the consensus estimate of ($0.37) by $0.01. The firm had revenue of $22.54 million during 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, sell-side analysts expect 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.