Pulmonx (NASDAQ:LUNG) Announces Earnings Results, Beats Expectations By $0.04 EPS

Pulmonx (NASDAQ:LUNG) posted its quarterly earnings data on Wednesday. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04, FiscalAI reports. Pulmonx had a negative net margin of 60.09% and a negative return on equity of 92.94%. The firm had revenue of $22.76 million for the quarter, compared to the consensus estimate of $22.39 million.

Pulmonx Price Performance

NASDAQ LUNG remained flat at $1.25 during trading hours on Wednesday. 182,830 shares of the company were exchanged, compared to its average volume of 458,130. The company has a market cap of $52.80 million, a PE ratio of -0.96 and a beta of 0.30. The company has a quick ratio of 4.04, a current ratio of 4.91 and a debt-to-equity ratio of 0.81. Pulmonx has a 1-year low of $1.13 and a 1-year high of $3.39. The firm has a 50-day simple moving average of $1.42 and a 200 day simple moving average of $1.47.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. D. Boral Capital restated a “buy” rating and set a $14.00 price target on shares of Pulmonx in a report on Thursday, April 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pulmonx in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded Pulmonx from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pulmonx has a consensus rating of “Hold” and an average target price of $5.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ExodusPoint Capital Management LP bought a new stake in Pulmonx in the 4th quarter valued at about $4,312,000. Vestal Point Capital LP bought a new position in Pulmonx in the third quarter valued at $1,345,000. Bank of America Corp DE boosted its holdings in shares of Pulmonx by 556.6% in the 2nd quarter. Bank of America Corp DE now owns 481,268 shares of the company’s stock worth $1,246,000 after purchasing an additional 407,971 shares in the last quarter. Birchview Capital LP purchased a new position in Pulmonx in the 4th quarter worth $554,000. Finally, Kotler Kevin bought a new stake in shares of Pulmonx in the 4th quarter valued at about $442,000. 91.04% of the stock is owned by institutional investors.

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.