Pulmonx (NASDAQ:LUNG) Shares Up 2.3% – Should You Buy?
by Kim Johansen · The Markets DailyPulmonx Corporation (NASDAQ:LUNG – Get Free Report)’s share price shot up 2.3% during mid-day trading on Monday . The stock traded as high as $1.4050 and last traded at $1.36. 225,754 shares were traded during trading, a decline of 69% from the average session volume of 717,472 shares. The stock had previously closed at $1.33.
Analysts Set New Price Targets
Several research firms have recently issued reports on LUNG. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Pulmonx in a research report on Thursday, March 5th. Canaccord Genuity Group decreased their price objective on shares of Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pulmonx in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.38.
Check Out Our Latest Analysis on Pulmonx
Pulmonx Stock Up 0.8%
The company has a debt-to-equity ratio of 0.68, a current ratio of 5.07 and a quick ratio of 4.28. The company has a market cap of $54.49 million, a price-to-earnings ratio of -0.97 and a beta of 0.19. The firm’s 50 day simple moving average is $1.50 and its 200-day simple moving average is $1.75.
Pulmonx (NASDAQ:LUNG – Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.14. Pulmonx had a negative net margin of 59.67% and a negative return on equity of 82.79%. The company had revenue of $22.60 million during the quarter, compared to the consensus estimate of $21.73 million. As a group, sell-side analysts anticipate that Pulmonx Corporation will post -1.55 earnings per share for the current year.
Insider Transactions at Pulmonx
In other Pulmonx news, CEO Glendon E. French III sold 67,813 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $1.43, for a total transaction of $96,972.59. Following the transaction, the chief executive officer directly owned 1,409,511 shares of the company’s stock, valued at approximately $2,015,600.73. This trade represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 98,265 shares of company stock worth $140,519. Company insiders own 6.80% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Portfolio Strategies LLC purchased a new position in Pulmonx during the 4th quarter worth $133,000. Engineers Gate Manager LP purchased a new position in Pulmonx during the 4th quarter worth $106,000. ADAR1 Capital Management LLC grew its position in Pulmonx by 65.7% during the 4th quarter. ADAR1 Capital Management LLC now owns 355,410 shares of the company’s stock worth $785,000 after purchasing an additional 140,913 shares during the last quarter. AQR Capital Management LLC grew its position in Pulmonx by 144.6% during the 4th quarter. AQR Capital Management LLC now owns 58,919 shares of the company’s stock worth $130,000 after purchasing an additional 34,828 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Pulmonx during the 4th quarter worth $31,000. 91.04% of the stock is owned by hedge funds and other institutional investors.
Pulmonx Company Profile
Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.
The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.