Pulmonx’s (LUNG) “Neutral” Rating Reiterated at Citigroup

Citigroup restated their neutral rating on shares of Pulmonx (NASDAQ:LUNG) in a research note released on Wednesday morning, Marketbeat reports. The firm currently has a $7.50 price objective on the stock, down from their prior price objective of $17.00.

Separately, Stifel Nicolaus dropped their price objective on Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.75.

Pulmonx Trading Up 0.8 %

NASDAQ LUNG opened at $6.10 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77. The stock has a market capitalization of $240.88 million, a P/E ratio of -4.15 and a beta of 0.69. The firm’s 50-day moving average is $6.56 and its two-hundred day moving average is $6.89. Pulmonx has a 12 month low of $5.46 and a 12 month high of $14.84.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. The firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $20.39 million. During the same period in the prior year, the business posted ($0.39) EPS. On average, sell-side analysts anticipate that Pulmonx will post -1.53 earnings per share for the current year.

Insider Transactions at Pulmonx

In related news, Director Glendon E. French III sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.63, for a total transaction of $132,600.00. Following the sale, the director now directly owns 1,071,974 shares in the company, valued at approximately $7,107,187.62. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Aaron Lehman sold 5,497 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 197,851 shares in the company, valued at approximately $1,224,697.69. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,873 shares of company stock valued at $324,070. 5.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pulmonx

Large investors have recently bought and sold shares of the business. 272 Capital LP purchased a new stake in Pulmonx during the 3rd quarter worth about $48,000. Franklin Resources Inc. boosted its holdings in Pulmonx by 2.3% in the third quarter. Franklin Resources Inc. now owns 700,389 shares of the company’s stock valued at $5,806,000 after purchasing an additional 15,570 shares in the last quarter. Barclays PLC increased its stake in Pulmonx by 1.8% in the third quarter. Barclays PLC now owns 94,109 shares of the company’s stock valued at $780,000 after purchasing an additional 1,679 shares during the last quarter. Geode Capital Management LLC raised its holdings in Pulmonx by 1.3% during the third quarter. Geode Capital Management LLC now owns 892,786 shares of the company’s stock worth $7,403,000 after purchasing an additional 11,151 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Pulmonx by 2.6% during the 3rd quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after buying an additional 18,592 shares during the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

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.