Lucid Diagnostics (NASDAQ:LUCD) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Lucid Diagnostics (NASDAQ:LUCD) issued its quarterly earnings data on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04), FiscalAI reports. The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $1.35 million.

Lucid Diagnostics Stock Up 5.3%

Shares of LUCD stock traded up $0.06 during trading hours on Wednesday, reaching $1.10. The company’s stock had a trading volume of 567,135 shares, compared to its average volume of 1,046,936. Lucid Diagnostics has a fifty-two week low of $0.75 and a fifty-two week high of $1.80. The firm’s 50 day simple moving average is $1.14 and its 200-day simple moving average is $1.17. The company has a market capitalization of $146.16 million, a price-to-earnings ratio of -0.92 and a beta of 1.22.

Analysts Set New Price Targets

LUCD has been the subject of several research reports. Ascendiant Capital Markets increased their target price on shares of Lucid Diagnostics from $7.75 to $8.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Wednesday, November 5th. Wall Street Zen raised shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 14th. BTIG Research upped their target price on shares of Lucid Diagnostics from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research note on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lucid Diagnostics currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.70.

Insiders Place Their Bets

In other Lucid Diagnostics news, Director Dennis Matheis purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was purchased at an average cost of $1.02 per share, for a total transaction of $102,000.00. Following the transaction, the director owned 665,443 shares in the company, valued at $678,751.86. The trade was a 17.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Lucid Diagnostics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in Lucid Diagnostics in the first quarter valued at about $39,000. JPMorgan Chase & Co. grew its position in shares of Lucid Diagnostics by 71,026.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company’s stock valued at $38,000 after purchasing an additional 32,672 shares in the last quarter. Invesco Ltd. bought a new position in Lucid Diagnostics in the 2nd quarter worth about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Lucid Diagnostics during the second quarter valued at approximately $43,000. Finally, New York State Common Retirement Fund purchased a new position in Lucid Diagnostics in the second quarter worth $97,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

About Lucid Diagnostics

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.