Pulmonx (NASDAQ:LUNG) Price Target Raised to $16.00

Pulmonx (NASDAQ:LUNG) had its price target boosted by Canaccord Genuity Group from $15.00 to $16.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Lake Street Capital initiated coverage on shares of Pulmonx in a research report on Tuesday, June 4th. They set a buy rating and a $12.00 target price for the company. Wells Fargo & Company cut their price target on shares of Pulmonx from $14.00 to $10.00 and set an equal weight rating on the stock in a report on Thursday. Finally, Piper Sandler restated an overweight rating and set a $17.00 price target on shares of Pulmonx in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Pulmonx presently has an average rating of Moderate Buy and an average price target of $15.29.

Pulmonx Stock Down 1.5 %

Shares of NASDAQ:LUNG traded down $0.10 during midday trading on Thursday, hitting $6.39. 341,308 shares of the company’s stock were exchanged, compared to its average volume of 338,653. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.95 and a quick ratio of 6.14. The stock has a 50 day moving average price of $6.91 and a 200-day moving average price of $9.03. The company has a market cap of $248.03 million, a PE ratio of -4.15 and a beta of 0.62. Pulmonx has a 12 month low of $5.67 and a 12 month high of $14.84.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Wednesday, May 1st. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. The company had revenue of $18.85 million during the quarter, compared to the consensus estimate of $17.54 million. Pulmonx had a negative net margin of 75.56% and a negative return on equity of 48.96%. During the same period in the previous year, the firm posted ($0.42) earnings per share. On average, sell-side analysts anticipate that Pulmonx will post -1.63 EPS for the current fiscal year.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, insider Geoffrey Beran Rose sold 4,297 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $6.97, for a total value of $29,950.09. Following the transaction, the insider now directly owns 301,203 shares in the company, valued at $2,099,384.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pulmonx news, insider Geoffrey Beran Rose sold 4,297 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $6.97, for a total value of $29,950.09. Following the transaction, the insider now directly owns 301,203 shares in the company, valued at $2,099,384.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Aaron Lehman sold 5,475 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $6.97, for a total transaction of $38,160.75. Following the completion of the transaction, the general counsel now owns 209,113 shares in the company, valued at $1,457,517.61. The disclosure for this sale can be found here. Insiders have sold a total of 12,140 shares of company stock worth $85,717 over the last three months. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Pulmonx

Several hedge funds and other institutional investors have recently modified their holdings of LUNG. Vanguard Group Inc. raised its position in shares of Pulmonx by 1.0% in the third quarter. Vanguard Group Inc. now owns 2,023,836 shares of the company’s stock valued at $20,906,000 after purchasing an additional 19,364 shares during the period. SG Americas Securities LLC bought a new stake in shares of Pulmonx in the fourth quarter valued at approximately $117,000. New York State Common Retirement Fund increased its holdings in Pulmonx by 32.7% during the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock worth $223,000 after acquiring an additional 4,311 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Pulmonx during the 4th quarter worth approximately $156,000. Finally, Quest Partners LLC bought a new stake in Pulmonx during the 4th quarter worth approximately $94,000. Institutional investors 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.