Pulmonx (NASDAQ:LUNG) Shares Gap Down After Analyst Downgrade

Pulmonx Co. (NASDAQ:LUNGGet Rating)’s stock price gapped down prior to trading on Wednesday after Piper Sandler lowered their price target on the stock from $37.00 to $25.00. The stock had previously closed at $18.48, but opened at $17.33. Piper Sandler currently has a maintains rating on the stock. Pulmonx shares last traded at $17.40, with a volume of 4,455 shares.

Several other research analysts have also issued reports on the company. Stifel Nicolaus cut their price target on Pulmonx from $32.00 to $20.00 in a report on Monday, July 18th. Morgan Stanley dropped their target price on Pulmonx from $30.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. Finally, Citigroup lowered Pulmonx from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $19.00 in a report on Monday, July 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.13.

Insider Buying and Selling

In related news, CEO Glendon E. French III sold 2,523 shares of Pulmonx stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $18.05, for a total transaction of $45,540.15. Following the sale, the chief executive officer now directly owns 1,104,994 shares in the company, valued at $19,945,141.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 4,599 shares of company stock worth $83,012. 8.50% of the stock is owned by company insiders.

Institutional Trading of Pulmonx

A number of hedge funds have recently bought and sold shares of the business. Primecap Management Co. CA lifted its holdings in Pulmonx by 10.2% during the first quarter. Primecap Management Co. CA now owns 5,445,991 shares of the company’s stock worth $135,115,000 after acquiring an additional 502,100 shares during the period. Deerfield Management Company L.P. Series C increased its position in Pulmonx by 56.1% in the first quarter. Deerfield Management Company L.P. Series C now owns 3,695,341 shares of the company’s stock worth $91,681,000 after buying an additional 1,328,474 shares during the last quarter. Capital World Investors increased its position in Pulmonx by 7.0% in the first quarter. Capital World Investors now owns 2,946,500 shares of the company’s stock worth $73,103,000 after buying an additional 192,000 shares during the last quarter. BlackRock Inc. increased its position in Pulmonx by 1.5% in the first quarter. BlackRock Inc. now owns 2,760,055 shares of the company’s stock worth $68,477,000 after buying an additional 41,724 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Pulmonx by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,616,519 shares of the company’s stock worth $64,916,000 after buying an additional 92,031 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.

Pulmonx Stock Up 3.4 %

The company has a quick ratio of 10.30, a current ratio of 11.33 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $16.66 and a 200-day simple moving average of $21.55. The firm has a market capitalization of $709.31 million, a PE ratio of -13.65 and a beta of 1.77.

Pulmonx (NASDAQ:LUNGGet Rating) last released its earnings results on Tuesday, August 2nd. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. Pulmonx had a negative return on equity of 26.08% and a negative net margin of 102.87%. During the same period in the prior year, the company earned ($0.34) earnings per share. Analysts forecast that Pulmonx Co. will post -1.6 EPS for the current year.

Pulmonx Company Profile

(Get Rating)

Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult 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.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for Pulmonx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pulmonx and related companies with MarketBeat.com's FREE daily email newsletter.