Pulmonx Corporation (NASDAQ:LUNG) Given Consensus Rating of “Hold” by Brokerages

Pulmonx Corporation (NASDAQ:LUNG) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $5.3786.

LUNG has been the topic of several recent research reports. Canaccord Genuity Group cut their price objective on Pulmonx from $6.00 to $5.00 and set a “buy” rating on the stock 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, March 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Pulmonx in a research note on Thursday, January 22nd.

Pulmonx Price Performance

Shares of NASDAQ:LUNG opened at $1.62 on Friday. The company has a market cap of $68.42 million, a price-to-earnings ratio of -1.22 and a beta of 0.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.07 and a quick ratio of 4.28. The firm has a 50 day simple moving average of $1.68 and a 200 day simple moving average of $1.79. Pulmonx has a one year low of $1.31 and a one year high of $8.12.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Wednesday, March 4th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.14. The firm had revenue of $22.60 million for the quarter, compared to analysts’ expectations of $21.73 million. Pulmonx had a negative net margin of 59.67% and a negative return on equity of 82.79%. Research analysts predict that Pulmonx will post -1.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Glendon E. French III sold 67,813 shares of the firm’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 value of $96,972.59. Following the completion of the transaction, the chief executive officer owned 1,409,511 shares in the company, valued at $2,015,600.73. This trade represents a 4.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 98,265 shares of company stock valued at $140,519 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna Portfolio Strategies LLC bought a new position in shares of Pulmonx during the fourth quarter valued at $133,000. Engineers Gate Manager LP acquired a new position in shares of Pulmonx during the fourth quarter worth $106,000. ADAR1 Capital Management LLC grew its stake in shares of Pulmonx by 65.7% in the fourth quarter. ADAR1 Capital Management LLC now owns 355,410 shares of the company’s stock worth $785,000 after purchasing an additional 140,913 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Pulmonx by 144.6% in the fourth quarter. AQR Capital Management LLC now owns 58,919 shares of the company’s stock worth $130,000 after purchasing an additional 34,828 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Pulmonx in the fourth quarter valued at $31,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

About Pulmonx

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.