Brokerages Set Pulmonx Co. (NASDAQ:LUNG) Target Price at $15.71

Pulmonx Co. (NASDAQ:LUNG) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $15.71.

Several research firms recently commented on LUNG. Piper Sandler reiterated an “overweight” rating and issued a $17.00 target price on shares of Pulmonx in a research note on Wednesday, April 3rd. Lake Street Capital assumed coverage on shares of Pulmonx in a research note on Tuesday, June 4th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Canaccord Genuity Group cut their price objective on shares of Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

Insider Transactions at Pulmonx

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

Hedge Funds Weigh In On Pulmonx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Pulmonx by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 157,902 shares of the company’s stock valued at $1,001,000 after acquiring an additional 17,740 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Pulmonx by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock worth $332,000 after buying an additional 1,633 shares during the period. EntryPoint Capital LLC acquired a new position in Pulmonx in the 1st quarter worth $102,000. Vanguard Group Inc. boosted its position in Pulmonx by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock valued at $19,262,000 after buying an additional 11,417 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Pulmonx by 6.4% during 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 acquiring an additional 59,835 shares in the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.

Pulmonx Price Performance

NASDAQ:LUNG opened at $7.75 on Friday. Pulmonx has a 12-month low of $5.67 and a 12-month high of $14.84. The firm has a market cap of $300.86 million, a price-to-earnings ratio of -5.03 and a beta of 0.62. The company’s 50-day moving average is $7.09 and its two-hundred day moving average is $9.24. The company has a current ratio of 6.95, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. The business had revenue of $18.85 million for the quarter, compared to the consensus estimate of $17.54 million. Pulmonx had a negative net margin of 80.46% and a negative return on equity of 48.09%. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. Research analysts expect that Pulmonx will post -1.63 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.