Pulmonx Corporation (NASDAQ:LUNG) Receives Average Rating of "Moderate Buy" from Analysts

Pulmonx Corporation (NASDAQ:LUNG - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $11.53.

LUNG has been the topic of several analyst reports. Jefferies Financial Group began coverage on shares of Pulmonx in a report on Monday, March 10th. They issued a "buy" rating on the stock. Morgan Stanley began coverage on shares of Pulmonx in a research note on Monday, March 10th. They set an "equal weight" rating on the stock. D. Boral Capital restated a "buy" rating and set a $17.00 price target on shares of Pulmonx in a research report on Thursday, May 1st. Citigroup cut their price objective on shares of Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group cut their price objective on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, May 1st.

Insider Buying and Selling at Pulmonx

In related news, General Counsel David Aaron Lehman sold 10,457 shares of Pulmonx stock in a transaction that occurred on Monday, June 2nd. The shares were 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 owned 273,039 shares in the company, valued at $854,612.07. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven S. Williamson sold 9,923 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $31,058.99. Following the transaction, the chief executive officer directly owned 366,115 shares of the company's stock, valued at approximately $1,145,939.95. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,388 shares of company stock worth $136,044. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Pulmonx

A number of institutional investors have recently modified their holdings of the business. Deerfield Management Company L.P. Series C acquired a new stake in shares of Pulmonx during the fourth quarter worth $10,421,000. Deutsche Bank AG increased its stake in shares of Pulmonx by 4.2% during the first quarter. Deutsche Bank AG now owns 1,147,105 shares of the company's stock worth $7,720,000 after acquiring an additional 46,116 shares during the period. Geode Capital Management LLC raised its holdings in Pulmonx by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 902,240 shares of the company's stock worth $6,128,000 after purchasing an additional 9,454 shares in the last quarter. Altium Capital Management LLC lifted its position in Pulmonx by 63.0% in the fourth quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock valued at $5,534,000 after purchasing an additional 315,000 shares during the period. Finally, Rock Springs Capital Management LP boosted its holdings in Pulmonx by 11.7% in the 4th quarter. Rock Springs Capital Management LP now owns 772,151 shares of the company's stock valued at $5,243,000 after purchasing an additional 80,851 shares in the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.

Pulmonx Trading Up 2.0%

LUNG stock traded up $0.06 during mid-day trading on Friday, reaching $2.78. The company had a trading volume of 151,836 shares, compared to its average volume of 305,628. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.97 and a quick ratio of 4.29. The company has a market capitalization of $111.72 million, a PE ratio of -1.93 and a beta of 0.45. The firm has a 50 day moving average of $3.23 and a 200 day moving average of $5.46. Pulmonx has a 12 month low of $2.50 and a 12 month high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.36) EPS 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 the consensus estimate of $22.03 million. Pulmonx had a negative net margin of 65.27% and a negative return on equity of 63.69%. On average, equities analysts predict that Pulmonx will post -1.55 earnings per share for the current fiscal year.

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.