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

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

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

Pulmonx Stock Performance

Shares of LUNG stock traded down $0.18 during trading hours on Thursday, hitting $6.31. 93,223 shares of the company’s stock traded hands, compared to its average volume of 458,765. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.95 and a quick ratio of 6.14. 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 12-month low of $5.67 and a 12-month high of $14.84.

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

Insider Transactions at Pulmonx

In related news, General Counsel David Aaron Lehman sold 5,475 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $6.97, for a total transaction of $38,160.75. Following the transaction, the general counsel now owns 209,113 shares in the company, valued at $1,457,517.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pulmonx news, General Counsel David Aaron Lehman sold 5,475 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $6.97, for a total transaction of $38,160.75. Following the completion of the sale, the general counsel now directly owns 209,113 shares in the company, valued at approximately $1,457,517.61. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Geoffrey Beran Rose sold 4,297 shares of the stock in a transaction on Monday, June 3rd. The shares were 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. Insiders sold 12,140 shares of company stock worth $85,717 over the last three months. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUNG. Primecap Management Co. CA raised its stake in Pulmonx by 2.2% during the 4th quarter. Primecap Management Co. CA now owns 5,646,451 shares of the company’s stock worth $71,992,000 after acquiring an additional 124,050 shares during the period. Vanguard Group Inc. boosted its stake in Pulmonx by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,077,859 shares of the company’s stock worth $19,262,000 after purchasing an additional 11,417 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Pulmonx by 7.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,059,018 shares of the company’s stock valued at $6,714,000 after buying an additional 69,595 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Pulmonx by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 157,902 shares of the company’s stock valued at $1,001,000 after buying an additional 17,740 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in shares of Pulmonx by 88.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 85,672 shares of the company’s stock worth $1,092,000 after buying an additional 40,292 shares in the last quarter. 91.04% of the stock is currently owned by institutional investors.

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.