Brokerages Set Pulmonx Co. (NASDAQ:LUNG) Price Target at $12.75

Shares of Pulmonx Co. (NASDAQ:LUNG) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $12.75.

LUNG has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Stifel Nicolaus 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, October 31st. Finally, Citigroup restated a “neutral” rating and set a $7.50 target price (down previously from $17.00) on shares of Pulmonx in a report on Wednesday, December 11th.

Pulmonx Trading Down 3.0 %

Shares of LUNG opened at $6.84 on Friday. The stock’s fifty day simple moving average is $6.54 and its 200-day simple moving average is $6.88. The firm has a market capitalization of $270.10 million, a PE ratio of -4.65 and a beta of 0.66. Pulmonx has a 12-month low of $5.46 and a 12-month high of $14.84. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. The company had revenue of $20.39 million for the quarter, compared to the consensus estimate of $20.39 million. During the same period in the prior year, the company posted ($0.39) EPS. As a group, research analysts predict that Pulmonx will post -1.53 earnings per share for the current year.

Insider Activity

In related news, General Counsel David Aaron Lehman sold 5,497 shares of Pulmonx stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.19, for a total value of $34,026.43. Following the sale, the general counsel now owns 197,851 shares of the company’s stock, valued at approximately $1,224,697.69. The trade was a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geoffrey Beran Rose sold 4,376 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.18, for a total value of $27,043.68. Following the transaction, the insider now directly owns 291,057 shares of the company’s stock, valued at $1,798,732.26. This trade represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,873 shares of company stock worth $324,070 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LUNG. Parkman Healthcare Partners LLC bought a new position in shares of Pulmonx in the third quarter valued at $1,711,000. State Street Corp increased its stake in shares of Pulmonx by 2.6% during the 3rd quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after purchasing an additional 18,592 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Pulmonx by 261.2% in the 2nd quarter. Squarepoint Ops LLC now owns 144,409 shares of the company’s stock valued at $916,000 after purchasing an additional 104,432 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in Pulmonx in the 3rd quarter valued at about $893,000. Finally, Millrace Asset Group Inc. bought a new position in Pulmonx during the third quarter worth about $1,390,000. Institutional investors and hedge funds own 91.04% of the company’s stock.

Pulmonx Company Profile

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.