Pulmonx (NASDAQ:LUNG) Announces Earnings Results

Key Points

• Pulmonx beat quarterly earnings expectations: The company reported an adjusted loss of $0.24 per share, better than the expected $0.28 loss, while revenue of $22.76 million exceeded estimates of $22.39 million.
• Shares remained under pressure: LUNG traded flat at $1.25, near its 12-month low of $1.13, with a market capitalization of approximately $52.8 million. The company continues to report significant losses, including a negative net margin of 60.09%.
• Analyst sentiment is mixed: Pulmonx has a consensus “Hold” rating and an average price target of $5.58, while institutional investors own 91.04% of the stock.

Pulmonx (NASDAQ:LUNG - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.04, FiscalAI reports. The company had revenue of $22.76 million during the quarter, compared to analysts' expectations of $22.39 million. Pulmonx had a negative return on equity of 92.94% and a negative net margin of 60.09%.

Pulmonx Price Performance

Shares of LUNG remained flat at $1.25 during trading hours on Wednesday. The stock had a trading volume of 182,830 shares, compared to its average volume of 458,130. The company has a quick ratio of 4.04, a current ratio of 4.91 and a debt-to-equity ratio of 0.81. The business's fifty day moving average is $1.42 and its 200 day moving average is $1.47. The firm has a market cap of $52.80 million, a price-to-earnings ratio of -0.96 and a beta of 0.30. Pulmonx has a 12 month low of $1.13 and a 12 month high of $3.39.

Institutional Investors Weigh In On Pulmonx

Hedge funds have recently added to or reduced their stakes in the company. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Pulmonx during the fourth quarter worth approximately $133,000. Engineers Gate Manager LP acquired a new position in Pulmonx during the fourth quarter worth $106,000. ADAR1 Capital Management LLC raised its holdings in Pulmonx by 65.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 355,410 shares of the company's stock worth $785,000 after buying an additional 140,913 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Pulmonx by 144.6% during the fourth quarter. AQR Capital Management LLC now owns 58,919 shares of the company's stock worth $130,000 after acquiring an additional 34,828 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Pulmonx in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 91.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings restated a "sell (e+)" rating on shares of Pulmonx in a research note on Monday, July 13th. D. Boral Capital reiterated a "buy" rating and set a $14.00 price target on shares of Pulmonx in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Pulmonx from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.58.

Pulmonx Company Profile

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company's flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.

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