Pulmonx (NASDAQ:LUNG) Price Target Raised to $4.00

Pulmonx (NASDAQ:LUNG) had its target price increased by Stifel Nicolaus from $2.50 to $4.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on LUNG. Canaccord Genuity Group set a $5.00 target price on Pulmonx in a report on Wednesday. Weiss Ratings upgraded shares of Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pulmonx currently has an average rating of “Moderate Buy” and a consensus price target of $7.67.

Pulmonx Trading Down 4.7%

NASDAQ:LUNG opened at $3.01 on Wednesday. The company’s 50 day moving average is $2.05 and its 200-day moving average is $1.66. The firm has a market cap of $129.27 million, a price-to-earnings ratio of -2.98 and a beta of 0.33. The company has a quick ratio of 3.52, a current ratio of 4.32 and a debt-to-equity ratio of 0.95. Pulmonx has a 12 month low of $1.13 and a 12 month high of $3.25.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Tuesday, October 27th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $22.84 million for the quarter, compared to analysts’ expectations of $21.93 million. Pulmonx had a negative net margin of 47.93% and a negative return on equity of 91.79%. Equities analysts anticipate that Pulmonx will post -0.98 EPS for the current year.

Insider Buying and Selling

In other news, insider Srikanth Radhakrishnan sold 14,245 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total value of $32,193.70. Following the sale, the insider directly owned 316,994 shares in the company, valued at $716,406.44. The trade was a 4.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Glendon E. French III sold 41,882 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $2.26, for a total value of $94,653.32. Following the completion of the sale, the chief executive officer owned 1,137,936 shares in the company, valued at approximately $2,571,735.36. The trade was a 3.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 78,340 shares of company stock valued at $177,048. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pulmonx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP raised its position in shares of Pulmonx by 11.5% in the second quarter. Engineers Gate Manager LP now owns 62,589 shares of the company’s stock worth $81,000 after acquiring an additional 6,438 shares during the period. Squarepoint Ops LLC grew its stake in shares of Pulmonx by 122.5% in the second quarter. Squarepoint Ops LLC now owns 183,558 shares of the company’s stock valued at $239,000 after buying an additional 101,066 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Pulmonx by 1,275.8% in the second quarter. Hsbc Holdings PLC now owns 193,846 shares of the company’s stock worth $249,000 after acquiring an additional 179,756 shares in the last quarter. Stonepine Capital Management LLC purchased a new stake in Pulmonx during the 2nd quarter worth about $1,060,067. Finally, Jefferies Financial Group Inc. purchased a new position in Pulmonx in the second quarter valued at approximately $371,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

About Pulmonx

Pulmonx Corporation is a medical device company focused on developing minimally invasive treatments for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD). The company’s technologies are designed to reduce hyperinflation in damaged portions of the lung and help improve breathing, exercise capacity and quality of life.

Pulmonx’s primary product is the Zephyr Endobronchial Valve, a bronchoscopically implanted, one-way valve intended for certain patients with severe emphysema.