Stifel Nicolaus Cuts Pulmonx (NASDAQ:LUNG) Price Target to $5.00

Key Points

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Pulmonx (NASDAQ:LUNG - Get Free Report) had its price objective lowered by Stifel Nicolaus from $16.00 to $5.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 194.99% from the stock's current price.

Several other research firms have also recently issued reports on LUNG. D. Boral Capital cut their target price on Pulmonx from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday. Citigroup cut their target price on Pulmonx from $6.50 to $4.15 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. 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. Finally, Piper Sandler cut Pulmonx from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $9.00 to $2.50 in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.66.

Pulmonx Trading Up 5.3%

Shares of NASDAQ LUNG traded up $0.09 during trading hours on Thursday, hitting $1.70. The company's stock had a trading volume of 297,029 shares, compared to its average volume of 401,730. 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 stock has a market cap of $68.24 million, a price-to-earnings ratio of -1.16 and a beta of 0.43. Pulmonx has a 12 month low of $1.59 and a 12 month high of $9.37. The business has a 50-day simple moving average of $2.91 and a 200-day simple moving average of $4.94.

Pulmonx (NASDAQ:LUNG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.02. The company had revenue of $23.86 million for 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, analysts anticipate that Pulmonx will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, General Counsel David Aaron Lehman sold 10,457 shares of Pulmonx stock in a transaction that occurred 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 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 SEC, which can be accessed through this link. Also, Director Daniel P. Florin acquired 23,321 shares of the business's stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $3.06 per share, for a total transaction of $71,362.26. Following the completion of the transaction, the director owned 117,231 shares in the company, valued at approximately $358,726.86. This represents a 24.83% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 43,388 shares of company stock worth $136,044. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Pulmonx

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC purchased a new position in shares of Pulmonx during the fourth quarter valued at approximately $72,000. Vontobel Holding Ltd. purchased a new position in shares of Pulmonx during the first quarter valued at approximately $82,000. Millennium Management LLC lifted its holdings in shares of Pulmonx by 26.6% during the fourth quarter. Millennium Management LLC now owns 183,069 shares of the company's stock valued at $1,243,000 after purchasing an additional 38,425 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Pulmonx by 38.7% during the fourth quarter. Renaissance Technologies LLC now owns 220,510 shares of the company's stock valued at $1,497,000 after purchasing an additional 61,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pulmonx by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 408,022 shares of the company's stock valued at $2,770,000 after purchasing an additional 60,489 shares during the last quarter. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

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.