Wells Fargo & Company Lowers Pulmonx (NASDAQ:LUNG) Price Target to $10.00

Pulmonx (NASDAQ:LUNG) had its target price trimmed by Wells Fargo & Company from $14.00 to $10.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently commented on LUNG. Piper Sandler restated an overweight rating and set a $17.00 price target on shares of Pulmonx in a report on Wednesday, April 3rd. Lake Street Capital started coverage on shares of Pulmonx in a research report on Tuesday, June 4th. They issued a buy rating and a $12.00 price target on the stock. Finally, Canaccord Genuity Group reduced their target price on shares of Pulmonx from $16.00 to $15.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $15.29.

Pulmonx Stock Down 6.9 %

NASDAQ LUNG traded down $0.44 during trading hours on Thursday, reaching $5.95. 295,538 shares of the company traded hands, compared to its average volume of 459,338. The company has a 50 day moving average of $6.91 and a two-hundred day moving average of $9.01. 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 has a 12 month low of $5.67 and a 12 month high of $14.84. The stock has a market capitalization of $230.96 million, a PE ratio of -3.86 and a beta of 0.62.

Insider Buying and Selling at Pulmonx

In other news, General Counsel David Aaron Lehman sold 5,475 shares of the 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 completion of the sale, the general counsel now owns 209,113 shares of the company’s stock, valued at $1,457,517.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pulmonx news, insider Geoffrey Beran Rose sold 4,297 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 301,203 shares in the company, valued at $2,099,384.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the general counsel now directly owns 209,113 shares of the company’s stock, valued at approximately $1,457,517.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,140 shares of company stock valued at $85,717. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LUNG. Price T Rowe Associates Inc. MD grew its position in shares of Pulmonx by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,720 shares of the company’s stock valued at $332,000 after buying an additional 1,633 shares during the last quarter. Sei Investments Co. increased its position in 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 period. New York State Common Retirement Fund raised 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 purchasing an additional 4,311 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Pulmonx by 609.7% in 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 acquired a new stake in shares of Pulmonx during the fourth quarter worth $94,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

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.