Pulmonx (NASDAQ:LUNG) Price Target Cut to $10.00 by Analysts at Wells Fargo & Company

Pulmonx (NASDAQ:LUNG) had its price objective cut by Wells Fargo & Company from $14.00 to $10.00 in a report released on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also issued reports on the company. Lake Street Capital started coverage on Pulmonx in a research report on Tuesday, June 4th. They set a buy rating and a $12.00 target price for the company. Canaccord Genuity Group cut their price objective on Pulmonx from $16.00 to $15.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Finally, Piper Sandler reiterated an overweight rating and issued a $17.00 target price on shares of Pulmonx in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $15.29.

Pulmonx Stock Performance

Shares of LUNG stock traded down $0.18 during mid-day trading on Thursday, reaching $6.31. 93,223 shares of the stock traded hands, compared to its average volume of 458,765. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.14 and a current ratio of 6.95. The stock’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $9.10. Pulmonx has a 1-year low of $5.67 and a 1-year high of $14.84.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Wednesday, May 1st. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. The firm had revenue of $18.85 million for the quarter, compared to analyst estimates of $17.54 million. Pulmonx had a negative net margin of 75.56% and a negative return on equity of 48.96%. During the same period in the previous year, the firm posted ($0.42) EPS. Equities analysts predict that Pulmonx will post -1.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Geoffrey Beran Rose sold 4,297 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $6.97, for a total transaction of $29,950.09. Following the transaction, the insider now owns 301,203 shares of the company’s stock, valued at approximately $2,099,384.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pulmonx news, General Counsel David Aaron Lehman sold 5,475 shares of the firm’s stock in a transaction that occurred on 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 owns 209,113 shares of the company’s stock, valued at $1,457,517.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geoffrey Beran Rose sold 4,297 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $6.97, for a total value of $29,950.09. Following the transaction, the insider now directly owns 301,203 shares in the company, valued at $2,099,384.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,140 shares of company stock worth $85,717. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Pulmonx

Several hedge funds have recently bought and sold shares of LUNG. Dynamic Technology Lab Private Ltd acquired a new position in Pulmonx during the fourth quarter worth $156,000. Vanguard Group Inc. increased 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 acquired a new stake in shares of Pulmonx in the 4th quarter worth about $117,000. Primecap Management Co. CA lifted its position in Pulmonx by 2.2% in the 4th quarter. Primecap Management Co. CA now owns 5,646,451 shares of the company’s stock valued at $71,992,000 after acquiring an additional 124,050 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Pulmonx by 2.5% during the 1st quarter. Sei Investments Co. now owns 72,626 shares of the company’s stock valued at $673,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

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.