Pulmonx (NASDAQ:LUNG) Price Target Cut to $16.00 by Analysts at D. Boral Capital

Key Points

• D. Boral Capital has lowered its price target for Pulmonx (NASDAQ:LUNG) from $17.00 to $16.00, maintaining a "buy" rating.
• Citigroup and Piper Sandler have also adjusted their ratings and price targets downward, with Citigroup setting a target of $4.15 and Piper Sandler lowering it to $2.50.
• Insider trading activity includes CFO Mehul Joshi selling 8,061 shares and Director Richard Ferrari selling 8,000 shares, both resulting in a decrease in their ownership positions.

Pulmonx (NASDAQ:LUNG - Get Free Report) had its target price lowered by equities researchers at D. Boral Capital from $17.00 to $16.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock.

Several other brokerages have also recently issued reports on LUNG. Piper Sandler cut shares of Pulmonx from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $9.00 to $2.50 in a research report on Thursday. Citigroup cut 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. Finally, Canaccord Genuity Group cut their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Pulmonx presently has a consensus rating of "Hold" and an average price target of $7.66.

Pulmonx Stock Up 2.5%

Shares of Pulmonx stock traded up $0.04 during trading on Thursday, hitting $1.65. The company's stock had a trading volume of 1,667,942 shares, compared to its average volume of 411,714. The company has a fifty day simple moving average of $2.91 and a two-hundred day simple moving average of $4.94. 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 company has a market capitalization of $66.43 million, a PE ratio of -1.15 and a beta of 0.43. Pulmonx has a 52 week low of $1.59 and a 52 week high of $9.37.

Pulmonx (NASDAQ:LUNG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. The company had revenue of $23.86 million during the quarter, compared to analyst estimates of $23.46 million. Pulmonx had a negative net margin of 62.88% and a negative return on equity of 66.36%. Equities research analysts predict that Pulmonx will post -1.55 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel David Aaron Lehman sold 10,457 shares of the business's 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 sale, the general counsel directly owned 273,039 shares of the company's stock, valued at approximately $854,612.07. The trade was a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Florin acquired 23,321 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost of $3.06 per share, with a total value of $71,362.26. Following the transaction, the director directly owned 117,231 shares in the company, valued at $358,726.86. This trade represents a 24.83% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 43,388 shares of company stock valued at $136,044 in the last ninety days. Company insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Pulmonx

Hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C acquired a new stake in Pulmonx in the 4th quarter valued at about $10,421,000. Parkman Healthcare Partners LLC lifted its stake in 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. Altium Capital Management LLC lifted its stake in Pulmonx by 63.0% in the fourth quarter. Altium Capital Management LLC now owns 815,000 shares of the company's stock worth $5,534,000 after acquiring an additional 315,000 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Pulmonx during the 1st quarter worth approximately $2,041,000. Finally, Nuveen LLC purchased a new stake in shares of Pulmonx in the 1st quarter valued at approximately $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.