Wells Fargo & Company Lowers Pulmonx (NASDAQ:LUNG) Price Target to $8.00

Pulmonx (NASDAQ:LUNG) had its target price reduced by Wells Fargo & Company from $10.00 to $8.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently commented on LUNG. Citigroup reaffirmed a “neutral” rating and set a $7.50 price target (down previously from $17.00) on shares of Pulmonx in a research report on Wednesday. Stifel Nicolaus reduced their target price on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pulmonx has an average rating of “Moderate Buy” and a consensus target price of $12.75.

Pulmonx Stock Up 0.8 %

Shares of LUNG stock opened at $6.10 on Wednesday. Pulmonx has a 12-month low of $5.46 and a 12-month high of $14.84. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $6.56 and a 200-day moving average of $6.89. The company has a market capitalization of $240.88 million, a price-to-earnings ratio of -4.15 and a beta of 0.69.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) 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 return on equity of 53.88% and a negative net margin of 72.01%. During the same quarter in the prior year, the company earned ($0.39) EPS. As a group, equities research analysts predict that Pulmonx will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Pulmonx

In related news, insider Geoffrey Beran Rose sold 4,376 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Aaron Lehman sold 5,497 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.19, for a total transaction of $34,026.43. Following the transaction, the general counsel now owns 197,851 shares in the company, valued at approximately $1,224,697.69. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,873 shares of company stock worth $324,070 over the last ninety days. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pulmonx

Several hedge funds have recently bought and sold shares of the company. 272 Capital LP acquired a new position in Pulmonx during the third quarter worth approximately $25,000. nVerses Capital LLC bought a new position in shares of Pulmonx during the 3rd quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pulmonx during the 2nd quarter worth approximately $37,000. SG Americas Securities LLC bought a new stake in Pulmonx in the 3rd quarter valued at $102,000. Finally, Hsbc Holdings PLC bought a new stake in Pulmonx in the 2nd quarter valued at $93,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

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.