D. Boral Capital Has Lowered Expectations for Pulmonx (NASDAQ:LUNG) Stock Price

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 dropped by equities researchers at D. Boral Capital from $17.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group lowered their target price on Pulmonx from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Citigroup lowered their target price on Pulmonx from $6.50 to $4.15 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Piper Sandler cut Pulmonx from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $9.00 to $2.50 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.66.

Pulmonx Trading Down 12.5%

Shares of LUNG stock traded down $0.23 on Thursday, reaching $1.61. The company had a trading volume of 1,873,679 shares, compared to its average volume of 649,469. 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 stock has a market cap of $64.82 million, a PE ratio of -1.13 and a beta of 0.43. The company has a 50-day moving average of $2.91 and a 200-day moving average of $4.96. Pulmonx has a 12 month low of $1.59 and a 12 month high of $9.37.

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

Insider Buying and Selling

In other news, CEO Steven S. Williamson sold 9,923 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $3.13, for a total value of $31,058.99. Following the completion of the sale, the chief executive officer owned 366,115 shares of the company's stock, valued at approximately $1,145,939.95. This represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel P. Florin acquired 23,321 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $3.06 per share, with a total value of $71,362.26. Following the acquisition, the director owned 117,231 shares in the company, valued at $358,726.86. The trade was a 24.83% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 43,388 shares of company stock worth $136,044 in the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pulmonx

Several large investors have recently made changes to their positions in LUNG. R Squared Ltd acquired a new stake in shares of Pulmonx in the 2nd quarter valued at approximately $41,000. BNP Paribas Financial Markets acquired a new stake in Pulmonx during the 4th quarter valued at $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. Finally, Vontobel Holding Ltd. acquired a new stake in Pulmonx during the 1st quarter valued at $82,000. 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.