Pulmonx Corporation (NASDAQ:LUNG) Receives $5.38 Consensus PT from Brokerages

Pulmonx Corporation (NASDAQ:LUNG) has earned an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $5.3786.

LUNG has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Pulmonx in a research note on Thursday, January 22nd. Wall Street Zen raised Pulmonx from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Canaccord Genuity Group reduced their target price on Pulmonx from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Finally, D. Boral Capital reissued a “buy” rating and set a $14.00 target price on shares of Pulmonx in a research report on Thursday, March 5th.

Insider Activity at Pulmonx

In other news, CEO Glendon E. French III sold 67,813 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $1.43, for a total value of $96,972.59. Following the sale, the chief executive officer directly owned 1,409,511 shares of the company’s stock, valued at approximately $2,015,600.73. This represents a 4.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 98,265 shares of company stock valued at $140,519. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Hedge funds and other institutional investors have recently bought and sold shares of the company. ExodusPoint Capital Management LP bought a new stake in Pulmonx during the fourth quarter valued at $4,312,000. Vestal Point Capital LP bought a new position in shares of Pulmonx in the 3rd quarter worth about $1,345,000. State Street Corp lifted its stake in shares of Pulmonx by 3.6% in the 4th quarter. State Street Corp now owns 821,217 shares of the company’s stock valued at $1,815,000 after purchasing an additional 28,813 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Pulmonx by 78.3% in the 3rd quarter. GSA Capital Partners LLP now owns 755,467 shares of the company’s stock valued at $1,224,000 after purchasing an additional 331,742 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Pulmonx by 556.6% during the 2nd quarter. Bank of America Corp DE now owns 481,268 shares of the company’s stock valued at $1,246,000 after purchasing an additional 407,971 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Pulmonx Price Performance

Shares of NASDAQ:LUNG opened at $1.68 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.28 and a current ratio of 5.07. Pulmonx has a 52 week low of $1.31 and a 52 week high of $8.12. The firm has a market cap of $70.96 million, a PE ratio of -1.26 and a beta of 0.07. The firm’s fifty day moving average is $1.71 and its 200-day moving average is $1.79.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.14. The business had revenue of $22.60 million during the quarter, compared to the consensus estimate of $21.73 million. Pulmonx had a negative return on equity of 82.79% and a negative net margin of 59.67%. Sell-side analysts predict that Pulmonx will post -1.55 earnings per share for the current year.

About Pulmonx

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.