Pulmonx’s (LUNG) “Neutral” Rating Reiterated at Citigroup

Pulmonx (NASDAQ:LUNG)‘s stock had its “neutral” rating reissued by investment analysts at Citigroup in a research report issued on Wednesday,Benzinga reports. They currently have a $7.50 target price on the stock, down from their previous target price of $17.00. Citigroup’s price target points to a potential upside of 13.98% from the company’s previous close.

Separately, Stifel Nicolaus dropped their target price on Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.08.

Pulmonx Price Performance

LUNG opened at $6.58 on Wednesday. The firm has a market capitalization of $259.83 million, a PE ratio of -4.48 and a beta of 0.69. The business’s 50-day moving average is $6.63 and its two-hundred day moving average is $6.91. Pulmonx has a 1 year low of $5.46 and a 1 year high of $14.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 7.70 and a quick ratio of 6.77.

Pulmonx (NASDAQ:LUNG) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. The firm had revenue of $20.39 million during the quarter, compared to analyst estimates 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 previous year, the business posted ($0.39) EPS. Research analysts anticipate that Pulmonx will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pulmonx news, insider Geoffrey Beran Rose sold 4,376 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.18, for a total transaction of $27,043.68. Following the completion of the transaction, the insider now directly owns 291,057 shares of the company’s stock, valued at approximately $1,798,732.26. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel David Aaron Lehman sold 5,497 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.19, for a total transaction of $34,026.43. Following the completion of the sale, the general counsel now directly owns 197,851 shares in the company, valued at $1,224,697.69. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,873 shares of company stock worth $485,870 in the last 90 days. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in shares of Pulmonx by 11.2% in the 3rd quarter. FMR LLC now owns 5,872,882 shares of the company’s stock valued at $48,686,000 after purchasing an additional 591,859 shares during the period. PFM Health Sciences LP acquired a new position in shares of Pulmonx in the third quarter worth about $3,058,000. Parkman Healthcare Partners LLC purchased a new stake in shares of Pulmonx during the 3rd quarter worth about $1,711,000. Millrace Asset Group Inc. acquired a new stake in shares of Pulmonx during the 3rd quarter valued at about $1,390,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Pulmonx during the 3rd quarter valued at about $893,000. 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.