Pulmonx Corporation (NASDAQ:LUNG) Given Average Rating of "Moderate Buy" by Brokerages

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

A number of research analysts have commented on the company. Citigroup decreased their price objective on Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Canaccord Genuity Group cut their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. D. Boral Capital reiterated a "buy" rating and set a $17.00 target price on shares of Pulmonx in a research report on Thursday, May 1st. Finally, Piper Sandler reiterated an "overweight" rating and set a $9.00 target price (down from $10.00) on shares of Pulmonx in a research report on Thursday, May 1st.

Insider Activity

In other news, CFO Mehul Joshi sold 8,061 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total transaction of $25,230.93. Following the completion of the sale, the chief financial officer directly owned 213,925 shares in the company, valued at approximately $669,585.25. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven S. Williamson sold 9,923 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.13, for a total value of $31,058.99. Following the sale, the chief executive officer owned 366,115 shares of the company's stock, valued at approximately $1,145,939.95. The trade was a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,388 shares of company stock worth $136,044. 6.80% of the stock is owned by insiders.

Institutional Trading of Pulmonx

Several institutional investors and hedge funds have recently modified their holdings of LUNG. Deerfield Management Company L.P. Series C bought a new stake in shares of Pulmonx during the 4th quarter worth $10,421,000. Parkman Healthcare Partners LLC lifted its position in shares of Pulmonx by 194.4% during the 1st quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock worth $4,118,000 after buying an additional 404,022 shares during the last quarter. Altium Capital Management LLC lifted its position in shares of Pulmonx by 63.0% during the 4th quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock worth $5,534,000 after buying an additional 315,000 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Pulmonx during the 1st quarter worth $2,041,000. Finally, Nuveen LLC bought a new stake in shares of Pulmonx during the 1st quarter worth $1,336,000. 91.04% of the stock is currently owned by institutional investors.

Pulmonx Price Performance

NASDAQ LUNG remained flat at $2.73 on Friday. The company's stock had a trading volume of 220,591 shares, compared to its average volume of 305,718. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.29 and a current ratio of 4.97. The stock's fifty day moving average is $3.09 and its two-hundred day moving average is $5.39. Pulmonx has a 52-week low of $2.50 and a 52-week high of $9.37. The stock has a market capitalization of $109.91 million, a P/E ratio of -1.90 and a beta of 0.45.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.01. Pulmonx had a negative return on equity of 63.69% and a negative net margin of 65.27%. The firm had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.03 million. Research analysts predict that Pulmonx will post -1.55 EPS 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.