Pulmonx (NASDAQ:LUNG – Get Free Report) had its target price dropped by equities research analysts at Wells Fargo & Company from $10.00 to $8.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 24.61% from the company’s previous close.
Several other research firms have also weighed in on LUNG. Stifel Nicolaus reduced their price objective on Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Citigroup reiterated a “neutral” rating and set a $7.50 price objective (down from $17.00) on shares of Pulmonx in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.75.
View Our Latest Stock Analysis on LUNG
Pulmonx Trading Down 2.4 %
Pulmonx (NASDAQ:LUNG – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. The company had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $20.39 million. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. During the same period in the previous year, the company earned ($0.39) EPS. As a group, equities analysts expect that Pulmonx will post -1.53 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Pulmonx news, General Counsel David Aaron Lehman sold 5,497 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.19, for a total transaction of $34,026.43. Following the transaction, the general counsel now directly owns 197,851 shares in the company, valued at $1,224,697.69. This represents a 2.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Geoffrey Beran Rose sold 4,376 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.18, for a total transaction of $27,043.68. Following the transaction, the insider now directly owns 291,057 shares of the company’s stock, valued at approximately $1,798,732.26. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,873 shares of company stock valued at $485,870. Corporate insiders own 5.70% of the company’s stock.
Institutional Trading of Pulmonx
Institutional investors and hedge funds have recently bought and sold shares of the company. 272 Capital LP acquired a new position in shares of Pulmonx in the 3rd quarter valued at about $25,000. nVerses Capital LLC acquired a new position in Pulmonx in the third quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pulmonx during the second quarter valued at approximately $37,000. Hsbc Holdings PLC bought a new position in shares of Pulmonx during the second quarter valued at approximately $93,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Pulmonx in the 2nd quarter worth approximately $102,000. 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.
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