Canaccord Genuity Group Trims Pulmonx (NASDAQ:LUNG) Target Price to $15.00

Pulmonx (NASDAQ:LUNG) had its target price trimmed by Canaccord Genuity Group from $16.00 to $15.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also weighed in on LUNG. Piper Sandler reaffirmed an overweight rating and issued a $17.00 target price on shares of Pulmonx in a research report on Wednesday, April 3rd. Stifel Nicolaus raised their target price on Pulmonx from $15.00 to $17.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Wells Fargo & Company reaffirmed an equal weight rating and set a $14.00 target price (down previously from $16.00) on shares of Pulmonx in a research note on Friday, February 23rd. Finally, Citigroup increased their price target on Pulmonx from $16.00 to $17.00 and gave the company a buy rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $16.33.

Pulmonx Stock Down 5.5 %

Shares of Pulmonx stock traded down $0.54 on Thursday, hitting $9.28. 348,126 shares of the company’s stock traded hands, compared to its average volume of 521,662. The stock has a market cap of $357.65 million, a P/E ratio of -6.05 and a beta of 0.66. The company has a quick ratio of 5.77, a current ratio of 6.50 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average is $8.58 and its 200 day moving average is $10.73. Pulmonx has a 52-week low of $7.11 and a 52-week high of $14.84.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. The business had revenue of $18.85 million for the quarter, compared to analyst estimates of $17.54 million. Pulmonx had a negative return on equity of 46.61% and a negative net margin of 80.46%. During the same period in the prior year, the company posted ($0.42) EPS. Equities analysts anticipate that Pulmonx will post -1.63 earnings per share for the current year.

Insider Buying and Selling

In other Pulmonx news, CEO Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.60, for a total value of $292,000.00. Following the completion of the transaction, the chief executive officer now owns 1,121,344 shares in the company, valued at approximately $16,371,622.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Glendon E. French III sold 20,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.60, for a total transaction of $292,000.00. Following the completion of the sale, the chief executive officer now owns 1,121,344 shares in the company, valued at $16,371,622.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Geoffrey Beran Rose sold 3,097 shares of Pulmonx 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 sale, the insider now directly owns 239,952 shares of the company’s stock, valued at $2,173,965.12. The disclosure for this sale can be found here. Insiders sold 39,032 shares of company stock worth $469,012 in the last 90 days. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pulmonx

Institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its stake in shares of Pulmonx by 132.7% during the third quarter. Barclays PLC now owns 92,938 shares of the company’s stock worth $960,000 after purchasing an additional 53,001 shares during the period. 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 acquiring an additional 401,830 shares during the period. Walleye Capital LLC acquired a new position in Pulmonx in the third quarter valued at about $3,846,000. Trexquant Investment LP acquired a new position in Pulmonx in the third quarter valued at about $368,000. Finally, Vanguard Group Inc. grew its stake in Pulmonx by 1.0% in the third quarter. Vanguard Group Inc. now owns 2,023,836 shares of the company’s stock valued at $20,906,000 after acquiring an additional 19,364 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.

About Pulmonx

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.