Pulmonx (NASDAQ:LUNG) Given New $10.00 Price Target at Wells Fargo & Company

Pulmonx (NASDAQ:LUNG) had its price target decreased by investment analysts at Wells Fargo & Company from $14.00 to $10.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 39.28% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Canaccord Genuity Group decreased their price target on Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $17.00 price objective on shares of Pulmonx in a report on Wednesday, April 3rd. Finally, Lake Street Capital began coverage on Pulmonx in a report on Tuesday, June 4th. They set a “buy” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.14.

Pulmonx Price Performance

Pulmonx stock traded up $0.27 during mid-day trading on Thursday, reaching $7.18. 113,548 shares of the company were exchanged, compared to its average volume of 456,872. The company has a fifty day simple moving average of $6.98 and a 200-day simple moving average of $9.12. Pulmonx has a 12 month low of $5.67 and a 12 month high of $14.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.95 and a quick ratio of 6.14. The firm has a market cap of $278.73 million, a PE ratio of -4.66 and a beta of 0.62.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. Pulmonx had a negative return on equity of 48.09% and a negative net margin of 80.46%. The firm had revenue of $18.85 million for the quarter, compared to analyst estimates of $17.54 million. During the same quarter last year, the company earned ($0.42) EPS. As a group, equities research analysts expect that Pulmonx will post -1.63 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel David Aaron Lehman sold 5,475 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $6.97, for a total value of $38,160.75. Following the transaction, the general counsel now directly owns 209,113 shares of the company’s stock, valued at approximately $1,457,517.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel David Aaron Lehman sold 5,475 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $6.97, for a total value of $38,160.75. Following the completion of the sale, the general counsel now directly owns 209,113 shares of the company’s stock, valued at approximately $1,457,517.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geoffrey Beran Rose sold 4,297 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $6.97, for a total value of $29,950.09. Following the completion of the sale, the insider now directly owns 301,203 shares of the company’s stock, valued at $2,099,384.91. The disclosure for this sale can be found here. Insiders have sold 12,140 shares of company stock valued at $85,717 in the last ninety days. 5.70% of the stock is owned by company insiders.

Institutional Trading of Pulmonx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Pulmonx in the 4th quarter worth approximately $156,000. 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 worth $20,906,000 after acquiring an additional 19,364 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Pulmonx during the fourth quarter worth $117,000. Primecap Management Co. CA lifted its position in shares of Pulmonx by 2.2% during the fourth quarter. Primecap Management Co. CA now owns 5,646,451 shares of the company’s stock worth $71,992,000 after acquiring an additional 124,050 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Pulmonx by 2.5% in the first quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock worth $673,000 after purchasing an additional 1,800 shares during the period. 91.04% of the stock is owned by 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.