Pulmonx’s (LUNG) Neutral Rating Reiterated at Citigroup

Pulmonx (NASDAQ:LUNG)‘s stock had its “neutral” rating reaffirmed by Citigroup in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They presently have a $7.50 price target on the stock, down from their previous price target of $17.00. Citigroup’s target price would indicate a potential upside of 23.97% from the stock’s previous close.

Separately, Stifel Nicolaus cut their price target on Pulmonx from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Pulmonx currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Pulmonx Stock Performance

Pulmonx stock opened at $6.05 on Wednesday. Pulmonx has a 12-month low of $5.46 and a 12-month high of $14.84. The company has a current ratio of 7.70, a quick ratio of 6.77 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $6.59 and its two-hundred day moving average price is $6.90.

Pulmonx (NASDAQ:LUNG) last released its earnings results on Wednesday, October 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. Pulmonx had a negative return on equity of 53.88% and a negative net margin of 72.01%. The firm had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $20.39 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, sell-side analysts predict that Pulmonx will post -1.53 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel David Aaron Lehman sold 5,497 shares of Pulmonx stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.19, for a total value of $34,026.43. Following the transaction, the general counsel now directly owns 197,851 shares of the company’s stock, valued at $1,224,697.69. The trade was a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geoffrey Beran Rose sold 4,376 shares of Pulmonx stock in a transaction that occurred on Monday, December 2nd. The stock was 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 in the company, valued at approximately $1,798,732.26. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,873 shares of company stock valued at $324,070 over the last ninety days. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pulmonx

A number of hedge funds and other institutional investors have recently made changes to their positions in LUNG. 272 Capital LP bought a new position in shares of Pulmonx during the 3rd quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in shares of Pulmonx in the 3rd quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Pulmonx in the 2nd quarter valued at $37,000. Hsbc Holdings PLC bought a new stake in shares of Pulmonx in the 2nd quarter valued at $93,000. Finally, Mackenzie Financial Corp acquired a new stake in Pulmonx in the 2nd quarter valued at $102,000. 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.