Pulmonx Corporation (NASDAQ:LUNG) Receives $11.53 Average Target Price from Brokerages

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

A number of equities analysts recently commented on LUNG shares. Citigroup dropped 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 decreased 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 reaffirmed 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 reaffirmed an "overweight" rating and set a $9.00 target price (down previously from $10.00) on shares of Pulmonx in a research report on Thursday, May 1st.

Pulmonx Price Performance

NASDAQ:LUNG remained flat at $2.73 during mid-day trading on Friday. The company had a trading volume of 220,591 shares, compared to its average volume of 305,718. The company has a fifty day moving average of $3.09 and a 200 day moving average of $5.39. Pulmonx has a 12-month low of $2.50 and a 12-month high of $9.37. The company has a market cap of $109.91 million, a PE ratio of -1.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.29 and a current ratio of 4.97.

Pulmonx (NASDAQ:LUNG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.36) EPS for the quarter, topping 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 the consensus estimate of $22.03 million. Equities analysts expect that Pulmonx will post -1.55 EPS for the current year.

Insiders Place Their Bets

In related news, Director Daniel P. Florin acquired 23,321 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $3.06 per share, for a total transaction of $71,362.26. Following the completion of the purchase, the director owned 117,231 shares in the company, valued at approximately $358,726.86. The trade was a 24.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel David Aaron Lehman sold 10,457 shares of the firm'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 $32,730.41. Following the completion of the sale, the general counsel owned 273,039 shares in the company, valued at approximately $854,612.07. The trade was a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,388 shares of company stock valued at $136,044 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pulmonx

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parkman Healthcare Partners LLC grew its stake in shares of Pulmonx by 194.4% in the first quarter. Parkman Healthcare Partners LLC now owns 611,875 shares of the company's stock worth $4,118,000 after acquiring an additional 404,022 shares during the last quarter. PDT Partners LLC lifted its position in Pulmonx by 45.1% in the first quarter. PDT Partners LLC now owns 71,637 shares of the company's stock worth $482,000 after purchasing an additional 22,259 shares during the period. Trexquant Investment LP lifted its position in Pulmonx by 140.0% in the first quarter. Trexquant Investment LP now owns 224,909 shares of the company's stock worth $1,514,000 after purchasing an additional 131,209 shares during the period. Informed Momentum Co LLC bought a new position in Pulmonx in the first quarter worth $668,000. Finally, Nuveen LLC bought a new position in Pulmonx in the first quarter worth $1,336,000. Institutional investors and hedge funds own 91.04% of the company's stock.

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.