Pulmonx (NASDAQ:LUNG) PT Lowered to $15.00 at Canaccord Genuity Group

Pulmonx (NASDAQ:LUNG) had its price target lowered by equities researchers at Canaccord Genuity Group from $16.00 to $15.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 59.91% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $14.00 target price (down from $16.00) on shares of Pulmonx in a report on Friday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $17.00 price target on shares of Pulmonx in a research report on Wednesday, April 3rd. Citigroup upped their price objective on Pulmonx from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus lifted their target price on Pulmonx from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pulmonx has an average rating of “Moderate Buy” and an average target price of $16.33.

Pulmonx Price Performance

Shares of LUNG stock traded up $1.66 during trading hours on Thursday, hitting $9.38. The stock had a trading volume of 1,221,031 shares, compared to its average volume of 511,838. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.50 and a quick ratio of 5.77. The stock has a market capitalization of $361.51 million, a price-to-earnings ratio of -5.84 and a beta of 0.66. Pulmonx has a one year low of $7.11 and a one year high of $14.84. The stock’s 50-day moving average price is $8.65 and its two-hundred day moving average price is $10.69.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07. Pulmonx had a negative return on equity of 46.63% and a negative net margin of 88.60%. The business had revenue of $18.85 million for the quarter, compared to analysts’ expectations of $17.54 million. During the same period in the prior year, the firm earned ($0.42) EPS. Equities analysts forecast that Pulmonx will post -1.79 EPS for the current year.

Insider Buying and Selling at Pulmonx

In other Pulmonx news, insider Geoffrey Beran Rose sold 3,097 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $9.06, for a total value of $28,058.82. Following the transaction, the insider now owns 239,952 shares of the company’s stock, valued at approximately $2,173,965.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pulmonx news, insider Geoffrey Beran Rose sold 3,097 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $9.06, for a total transaction of $28,058.82. Following the transaction, the insider now directly owns 239,952 shares in the company, valued at approximately $2,173,965.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Aaron Lehman sold 4,351 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $9.06, for a total transaction of $39,420.06. Following the completion of the sale, the general counsel now directly owns 145,488 shares of the company’s stock, valued at $1,318,121.28. The disclosure for this sale can be found here. Insiders sold 39,032 shares of company stock worth $469,012 over the last 90 days. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Several institutional investors have recently bought and sold shares of LUNG. Barclays PLC boosted its position in Pulmonx by 132.7% during the 3rd quarter. Barclays PLC now owns 92,938 shares of the company’s stock valued at $960,000 after acquiring an additional 53,001 shares in the last quarter. FMR LLC grew its stake in Pulmonx by 24.7% in the third quarter. FMR LLC now owns 2,029,835 shares of the company’s stock valued at $20,968,000 after purchasing an additional 401,830 shares during the last quarter. Walleye Capital LLC purchased a new position in Pulmonx in the third quarter valued at about $3,846,000. Trexquant Investment LP bought a new position in Pulmonx in the third quarter worth about $368,000. Finally, Vanguard Group Inc. lifted its position in shares of Pulmonx by 1.0% during the third quarter. Vanguard Group Inc. now owns 2,023,836 shares of the company’s stock valued at $20,906,000 after buying an additional 19,364 shares during the last quarter. 91.04% of the stock is owned by hedge funds and other institutional investors.

Pulmonx Company Profile

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.