Pulmonx (NASDAQ:LUNG) Given New $8.00 Price Target at Lake Street Capital

Pulmonx (NASDAQ:LUNG) had its price objective dropped by equities researchers at Lake Street Capital from $12.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price indicates a potential upside of 396.89% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Piper Sandler cut shares of Pulmonx from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $9.00 to $2.50 in a report on Thursday. Citigroup cut their price objective on shares of Pulmonx from $6.50 to $4.15 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Canaccord Genuity Group cut their price objective on shares of Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. D. Boral Capital cut their target price on shares of Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus cut their target price on shares of Pulmonx from $16.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.66.

Pulmonx Stock Down 12.5%

LUNG stock opened at $1.61 on Thursday. The company has a current ratio of 4.97, a quick ratio of 4.29 and a debt-to-equity ratio of 0.38. Pulmonx has a twelve month low of $1.59 and a twelve month high of $9.37. The company’s 50 day moving average is $2.91 and its two-hundred day moving average is $4.96. The stock has a market cap of $64.82 million, a P/E ratio of -1.13 and a beta of 0.43.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. Pulmonx had a negative net margin of 62.88% and a negative return on equity of 66.36%. The company had revenue of $23.86 million for the quarter, compared to analysts’ expectations of $23.46 million. Research analysts expect that Pulmonx will post -1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pulmonx news, CEO Steven S. Williamson sold 9,923 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.13, for a total value of $31,058.99. Following the transaction, the chief executive officer directly owned 366,115 shares of the company’s stock, valued at approximately $1,145,939.95. The trade was a 2.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel P. Florin acquired 23,321 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was purchased at an average cost of $3.06 per share, for a total transaction of $71,362.26. Following the completion of the purchase, the director directly owned 117,231 shares in the company, valued at $358,726.86. This trade represents a 24.83% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 43,388 shares of company stock worth $136,044. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of Pulmonx by 4.6% during the 1st quarter. Rhumbline Advisers now owns 55,958 shares of the company’s stock worth $377,000 after purchasing an additional 2,455 shares during the period. American Century Companies Inc. grew its stake in shares of Pulmonx by 8.8% during the 4th quarter. American Century Companies Inc. now owns 34,738 shares of the company’s stock worth $236,000 after purchasing an additional 2,810 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Pulmonx by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 320,946 shares of the company’s stock worth $2,160,000 after purchasing an additional 5,414 shares during the period. Wells Fargo & Company MN grew its stake in shares of Pulmonx by 48.7% during the 4th quarter. Wells Fargo & Company MN now owns 18,418 shares of the company’s stock worth $125,000 after purchasing an additional 6,033 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of Pulmonx during the 4th quarter worth $43,000. 91.04% of the stock is 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.