Pulmonx Corporation (NASDAQ:LUNG) Given Consensus Recommendation of "Moderate Buy" by Analysts

Pulmonx Corporation (NASDAQ:LUNG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.53.

LUNG has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on shares of Pulmonx in a research report 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 report on Thursday, May 22nd. Canaccord Genuity Group lowered their target price on shares of Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group initiated coverage on shares of Pulmonx in a research report on Monday, March 10th. They set a "buy" rating on the stock. Finally, Piper Sandler restated 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.

Pulmonx Stock Performance

Shares of Pulmonx stock traded down $0.08 on Friday, reaching $2.70. 26,112 shares of the stock were exchanged, compared to its average volume of 304,553. Pulmonx has a 1-year low of $2.50 and a 1-year high of $9.37. The company has a current ratio of 4.97, a quick ratio of 4.29 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average price of $3.23 and a two-hundred day moving average price of $5.46. The firm has a market capitalization of $108.70 million, a PE ratio of -1.87 and a beta of 0.45.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. Pulmonx had a negative net margin of 65.27% and a negative return on equity of 63.69%. The business had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.03 million. As a group, research analysts anticipate that Pulmonx will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pulmonx news, Director Richard Ferrari sold 8,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $3.16, for a total value of $25,280.00. Following the sale, the director owned 87,024 shares of the company's stock, valued at $274,995.84. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven S. Williamson sold 9,923 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.13, for a total transaction of $31,058.99. Following the completion of the sale, the chief executive officer directly owned 366,115 shares in the company, valued at $1,145,939.95. This trade represents a 2.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,388 shares of company stock valued at $136,044. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pulmonx

Several institutional investors and hedge funds have recently modified their holdings of LUNG. BNP Paribas Financial Markets purchased a new position in shares of Pulmonx during the fourth quarter valued at approximately $43,000. ProShare Advisors LLC acquired a new stake in Pulmonx during the 4th quarter valued at $72,000. Stifel Financial Corp acquired a new stake in Pulmonx during the 4th quarter valued at $81,000. Vontobel Holding Ltd. acquired a new stake in Pulmonx during the 1st quarter valued at $82,000. Finally, Graham Capital Management L.P. grew its holdings in Pulmonx by 73.3% during the 4th quarter. Graham Capital Management L.P. now owns 18,071 shares of the company's stock valued at $123,000 after purchasing an additional 7,641 shares in the last quarter. Hedge funds and other institutional investors 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.