Pulmonx Co. (NASDAQ:LUNG) Receives Average Recommendation of “Moderate Buy” from Analysts

Pulmonx Co. (NASDAQ:LUNG) has been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.83.

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group increased their price objective on Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st.

Insider Activity at Pulmonx

In other Pulmonx news, General Counsel David Aaron Lehman sold 5,765 shares of Pulmonx stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.69, for a total value of $38,567.85. Following the completion of the sale, the general counsel now directly owns 203,348 shares in the company, valued at $1,360,398.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pulmonx news, General Counsel David Aaron Lehman sold 5,765 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $6.69, for a total transaction of $38,567.85. Following the transaction, the general counsel now directly owns 203,348 shares in the company, valued at $1,360,398.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven S. Williamson purchased 14,245 shares of Pulmonx stock in a transaction on Tuesday, August 20th. The stock was bought at an average cost of $6.84 per share, with a total value of $97,435.80. Following the transaction, the chief executive officer now directly owns 219,531 shares of the company’s stock, valued at $1,501,592.04. The disclosure for this purchase can be found here. In the last quarter, insiders sold 30,351 shares of company stock valued at $231,094. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pulmonx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pulmonx by 609.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock worth $79,000 after buying an additional 7,316 shares during the period. Sei Investments Co. boosted its holdings in Pulmonx by 2.5% during the first quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock valued at $673,000 after acquiring an additional 1,800 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Pulmonx by 6.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 989,423 shares of the company’s stock valued at $9,172,000 after purchasing an additional 59,835 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Pulmonx by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock valued at $19,262,000 after purchasing an additional 11,417 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Pulmonx in the first quarter worth about $102,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

Pulmonx Stock Performance

Pulmonx stock opened at $7.31 on Friday. Pulmonx has a fifty-two week low of $5.46 and a fifty-two week high of $14.84. The firm’s 50 day simple moving average is $7.22 and its 200-day simple moving average is $7.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 8.97 and a quick ratio of 7.92. The company has a market cap of $283.74 million, a P/E ratio of -4.75 and a beta of 0.63.

Pulmonx (NASDAQ:LUNG) last announced its earnings results on Wednesday, July 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.02. The company had revenue of $20.78 million for the quarter, compared to the consensus estimate of $20.23 million. Pulmonx had a negative net margin of 75.56% and a negative return on equity of 50.79%. As a group, equities research analysts predict that Pulmonx will post -1.64 EPS for the current year.

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.