Pulmonx Corporation (NASDAQ:LUNG) Given Consensus Rating of “Hold” by Analysts

Shares of Pulmonx Corporation (NASDAQ:LUNG) have received a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.3786.

LUNG has been the topic of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pulmonx in a research note on Thursday, January 22nd. Canaccord Genuity Group lowered their target price on Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of Pulmonx in a research report on Thursday, March 5th.

Pulmonx Stock Performance

Pulmonx stock opened at $1.39 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.07 and a quick ratio of 4.28. Pulmonx has a 12 month low of $1.31 and a 12 month high of $7.97. The company has a fifty day moving average price of $1.65 and a two-hundred day moving average price of $1.79. The company has a market cap of $58.71 million, a PE ratio of -1.05 and a beta of 0.07.

Pulmonx (NASDAQ:LUNG) last issued its earnings results on Wednesday, March 4th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.14. Pulmonx had a negative net margin of 59.67% and a negative return on equity of 82.79%. The company had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $21.73 million. Research analysts expect that Pulmonx will post -1.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Glendon E. French III sold 67,813 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $1.43, for a total transaction of $96,972.59. Following the completion of the transaction, the chief executive officer directly owned 1,409,511 shares in the company, valued at $2,015,600.73. This represents a 4.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 98,265 shares of company stock worth $140,519. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pulmonx

Hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Pulmonx by 32.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 218,758 shares of the company’s stock worth $567,000 after acquiring an additional 53,148 shares during the period. Wells Fargo & Company MN lifted its position in Pulmonx by 100.4% in the 4th quarter. Wells Fargo & Company MN now owns 47,580 shares of the company’s stock valued at $105,000 after purchasing an additional 23,839 shares during the last quarter. Banco BTG Pactual S.A. acquired a new position in Pulmonx during the 4th quarter valued at about $102,000. Two Sigma Investments LP boosted its stake in Pulmonx by 50.3% during the 3rd quarter. Two Sigma Investments LP now owns 46,456 shares of the company’s stock valued at $75,000 after purchasing an additional 15,557 shares during the period. Finally, Jain Global LLC grew its position in Pulmonx by 62.9% in the 4th quarter. Jain Global LLC now owns 30,566 shares of the company’s stock worth $68,000 after purchasing an additional 11,800 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

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.