Pulmonx (NASDAQ:LUNG) Research Coverage Started at D. Boral Capital

D. Boral Capital assumed coverage on shares of Pulmonx (NASDAQ:LUNG) in a research note published on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $17.00 price target on the stock.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company decreased their price objective on Pulmonx from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Citigroup restated a “neutral” rating and set a $7.50 price objective (down previously from $17.00) on shares of Pulmonx in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.36.

Pulmonx Price Performance

Shares of LUNG opened at $7.32 on Monday. Pulmonx has a 52-week low of $5.46 and a 52-week high of $10.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.77 and a current ratio of 7.70. The business’s 50 day moving average price is $6.99 and its two-hundred day moving average price is $6.94. The firm has a market cap of $291.31 million, a PE ratio of -5.08 and a beta of 0.50.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.12. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. The firm had revenue of $23.77 million for the quarter, compared to analyst estimates of $22.29 million. On average, equities analysts anticipate that Pulmonx will post -1.55 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mehul Joshi sold 14,384 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.12, for a total transaction of $102,414.08. Following the transaction, the chief financial officer now directly owns 113,986 shares in the company, valued at $811,580.32. This trade represents a 11.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geoffrey Beran Rose sold 5,779 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $7.13, for a total value of $41,204.27. Following the completion of the sale, the insider now owns 285,278 shares of the company’s stock, valued at approximately $2,034,032.14. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,986 shares of company stock worth $986,673 in the last ninety days. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Pulmonx

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in Pulmonx by 2.6% in the third quarter. State Street Corp now owns 747,028 shares of the company’s stock worth $6,193,000 after buying an additional 18,592 shares in the last quarter. Parkman Healthcare Partners LLC bought a new position in shares of Pulmonx in the third quarter worth about $1,711,000. Geode Capital Management LLC boosted its stake in shares of Pulmonx by 1.3% in the third quarter. Geode Capital Management LLC now owns 892,786 shares of the company’s stock worth $7,403,000 after acquiring an additional 11,151 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of Pulmonx in the third quarter worth about $893,000. Finally, Millrace Asset Group Inc. bought a new position in shares of Pulmonx in the third quarter worth about $1,390,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

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.