Pulmonx (NASDAQ:LUNG) Earns Neutral Rating from Citigroup

Citigroup reaffirmed their neutral rating on shares of Pulmonx (NASDAQ:LUNG) in a research note released on Wednesday, MarketBeat Ratings reports. Citigroup currently has a $7.50 target price on the stock, down from their previous target price of $17.00.

Separately, Stifel Nicolaus dropped their price target on Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pulmonx currently has an average rating of “Moderate Buy” and a consensus target price of $12.75.

Pulmonx Price Performance

Shares of NASDAQ LUNG opened at $6.10 on Wednesday. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The stock has a market cap of $240.88 million, a P/E ratio of -4.15 and a beta of 0.69. The stock has a 50 day moving average of $6.56 and a two-hundred day moving average of $6.89. Pulmonx has a twelve month low of $5.46 and a twelve month high of $14.84.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results on Wednesday, October 30th. 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 $20.39 million during the quarter, compared to analysts’ expectations of $20.39 million. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 53.88%. During the same quarter in the prior year, the business earned ($0.39) EPS. On average, research analysts forecast that Pulmonx will post -1.53 earnings per share for the current year.

Insider Activity

In other Pulmonx news, insider Geoffrey Beran Rose sold 4,376 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.18, for a total value of $27,043.68. Following the completion of the transaction, the insider now owns 291,057 shares in the company, valued at approximately $1,798,732.26. This represents a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glendon E. French III sold 20,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $6.52, for a total transaction of $130,400.00. Following the sale, the director now owns 1,091,974 shares in the company, valued at $7,119,670.48. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,873 shares of company stock valued at $324,070 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Large investors have recently made changes to their positions in the stock. 272 Capital LP acquired a new position in Pulmonx during the third quarter worth about $48,000. Franklin Resources Inc. boosted its stake in shares of Pulmonx by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 700,389 shares of the company’s stock worth $5,806,000 after acquiring an additional 15,570 shares in the last quarter. Barclays PLC grew its holdings in shares of Pulmonx by 1.8% in the 3rd quarter. Barclays PLC now owns 94,109 shares of the company’s stock worth $780,000 after acquiring an additional 1,679 shares during the period. Geode Capital Management LLC increased its stake in Pulmonx by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 892,786 shares of the company’s stock valued at $7,403,000 after purchasing an additional 11,151 shares in the last quarter. Finally, State Street Corp raised its holdings in Pulmonx by 2.6% during the third quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after purchasing an additional 18,592 shares during the last quarter. Hedge funds and other institutional investors 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.