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

Pulmonx Co. (NASDAQ:LUNG) has been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $15.71.

A number of brokerages recently commented on LUNG. Piper Sandler restated an “overweight” rating and set a $17.00 price target on shares of Pulmonx in a research note on Wednesday, April 3rd. Canaccord Genuity Group dropped their price target on shares of Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Lake Street Capital began coverage on shares of Pulmonx in a research note on Tuesday, June 4th. They set a “buy” rating and a $12.00 price target on the stock.

Insiders Place Their Bets

In other Pulmonx news, insider Geoffrey Beran Rose sold 4,297 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $6.97, for a total value of $29,950.09. Following the sale, the insider now directly owns 301,203 shares in the company, valued at approximately $2,099,384.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel David Aaron Lehman sold 5,475 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $6.97, for a total transaction of $38,160.75. Following the sale, the general counsel now owns 209,113 shares in the company, valued at approximately $1,457,517.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Geoffrey Beran Rose sold 4,297 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $6.97, for a total transaction of $29,950.09. Following the sale, the insider now owns 301,203 shares in the company, valued at approximately $2,099,384.91. The disclosure for this sale can be found here. Insiders have sold 13,324 shares of company stock worth $94,585 in the last three months. 5.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pulmonx

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Pulmonx by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock valued at $332,000 after purchasing an additional 1,633 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Pulmonx by 2.5% during the 1st quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock valued at $673,000 after purchasing an additional 1,800 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Pulmonx by 32.7% during the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock valued at $223,000 after purchasing an additional 4,311 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Pulmonx by 609.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock valued at $79,000 after purchasing an additional 7,316 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Pulmonx during the 4th quarter valued at $94,000. Institutional investors own 91.04% of the company’s stock.

Pulmonx Price Performance

Pulmonx stock opened at $6.32 on Wednesday. Pulmonx has a twelve month low of $5.67 and a twelve month high of $14.84. The firm has a 50 day moving average price of $7.51 and a 200-day moving average price of $9.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.95 and a quick ratio of 6.14.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, May 1st. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. The firm 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 80.46% and a negative return on equity of 48.09%. During the same period in the prior year, the firm earned ($0.42) EPS. On average, sell-side analysts predict 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.