Pulmonx (NASDAQ:LUNG) Given New $16.00 Price Target at Stifel Nicolaus

Pulmonx (NASDAQ:LUNG) had its price objective reduced by Stifel Nicolaus from $17.00 to $16.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on LUNG. Canaccord Genuity Group lifted their price objective on Pulmonx from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company cut their price target on shares of Pulmonx from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Pulmonx Stock Up 4.8 %

NASDAQ:LUNG traded up $0.30 during midday trading on Thursday, reaching $6.55. 49,727 shares of the stock traded hands, compared to its average volume of 398,561. Pulmonx has a 12 month low of $5.46 and a 12 month high of $14.84. The company has a current ratio of 8.97, a quick ratio of 7.92 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $7.27 and a 200 day moving average of $7.26.

Pulmonx (NASDAQ:LUNG) last posted its earnings results on Wednesday, July 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. Pulmonx had a negative net margin of 72.01% and a negative return on equity of 51.92%. The company had revenue of $20.78 million during the quarter, compared to analyst estimates of $20.23 million. As a group, equities research analysts forecast that Pulmonx will post -1.64 earnings per share for the current year.

Insider Activity at Pulmonx

In other Pulmonx news, CEO Steven S. Williamson purchased 14,245 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average cost of $6.84 per share, for a total transaction of $97,435.80. Following the purchase, the chief executive officer now directly owns 219,531 shares in the company, valued at $1,501,592.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pulmonx news, insider Geoffrey Beran Rose sold 4,586 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.70, for a total value of $30,726.20. Following the sale, the insider now directly owns 295,433 shares of the company’s stock, valued at approximately $1,979,401.10. The trade was a 0.00 % 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, CEO Steven S. Williamson bought 14,245 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of $6.84 per share, for a total transaction of $97,435.80. Following the completion of the purchase, the chief executive officer now owns 219,531 shares of the company’s stock, valued at approximately $1,501,592.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 50,351 shares of company stock worth $361,494 over the last ninety days. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pulmonx

A number of hedge funds have recently bought and sold shares of LUNG. nVerses Capital LLC purchased a new position in Pulmonx in the third quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pulmonx in the 2nd quarter worth approximately $37,000. Allspring Global Investments Holdings LLC lifted its position in Pulmonx by 609.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,516 shares of the company’s stock valued at $79,000 after acquiring an additional 7,316 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Pulmonx during the 2nd quarter valued at $93,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Pulmonx in the 1st quarter worth $102,000. 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.