Pulmonx Corporation (NASDAQ:LUNG) Given Average Recommendation of “Hold” by Analysts

Shares of Pulmonx Corporation (NASDAQ:LUNG) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.3786.

LUNG has been the subject of several recent analyst reports. Wall Street Zen cut shares of Pulmonx from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Canaccord Genuity Group decreased their target price on shares of Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, March 5th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Pulmonx in a report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pulmonx in a report on Thursday, January 22nd.

Insider Buying and Selling at Pulmonx

In other news, CEO Glendon E. French III sold 67,813 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were 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 of the company’s stock, valued at $2,015,600.73. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 98,265 shares of company stock worth $140,519 over the last three months. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LUNG. ExodusPoint Capital Management LP purchased a new position in shares of Pulmonx during the fourth quarter valued at approximately $4,312,000. Vestal Point Capital LP purchased a new position in shares of Pulmonx during the third quarter valued at approximately $1,345,000. Bank of America Corp DE raised its holdings in shares of Pulmonx by 556.6% during the second quarter. Bank of America Corp DE now owns 481,268 shares of the company’s stock valued at $1,246,000 after purchasing an additional 407,971 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Pulmonx by 78.3% during the third quarter. GSA Capital Partners LLP now owns 755,467 shares of the company’s stock valued at $1,224,000 after purchasing an additional 331,742 shares during the last quarter. Finally, Birchview Capital LP purchased a new position in shares of Pulmonx during the fourth quarter valued at approximately $554,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

Pulmonx Stock Down 0.8%

Shares of Pulmonx stock opened at $1.26 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.28 and a current ratio of 4.91. The stock has a market capitalization of $53.22 million, a PE ratio of -0.97 and a beta of 0.18. Pulmonx has a 52-week low of $1.13 and a 52-week high of $3.88. The company has a 50-day simple moving average of $1.43 and a two-hundred day simple moving average of $1.71.

Pulmonx (NASDAQ:LUNG) last issued its earnings results on Wednesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.33). The business had revenue of $20.59 million during the quarter, compared to analysts’ expectations of $20.43 million. Pulmonx had a negative net margin of 60.09% and a negative return on equity of 92.94%. On average, analysts anticipate that Pulmonx will post -1.13 EPS for the current fiscal year.

Pulmonx Company Profile

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.