Lucid Diagnostics Inc. (NASDAQ:LUCD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) have earned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $4.1875.

Several equities analysts have recently weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Wednesday, May 6th. Maxim Group reduced their target price on shares of Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, May 15th. Ascendiant Capital Markets increased their price target on shares of Lucid Diagnostics from $9.00 to $9.25 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th.

Insiders Place Their Bets

In related news, Director Dennis Matheis bought 245,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $1.00 per share, for a total transaction of $245,000.00. Following the completion of the transaction, the director owned 1,033,443 shares of the company’s stock, valued at approximately $1,033,443. This trade represents a 31.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Lucid Diagnostics

A number of hedge funds and other institutional investors have recently bought and sold shares of LUCD. Pine Valley Investments Ltd Liability Co lifted its position in shares of Lucid Diagnostics by 73.2% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 34,283 shares of the company’s stock valued at $39,000 after buying an additional 14,487 shares in the last quarter. Bank of America Corp DE increased its holdings in Lucid Diagnostics by 25.9% in the 1st quarter. Bank of America Corp DE now owns 88,527 shares of the company’s stock worth $102,000 after acquiring an additional 18,212 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Lucid Diagnostics by 134.4% in the 1st quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company’s stock worth $1,035,000 after acquiring an additional 516,014 shares in the last quarter. XML Financial LLC raised its stake in Lucid Diagnostics by 24.8% during the 1st quarter. XML Financial LLC now owns 223,195 shares of the company’s stock worth $257,000 after acquiring an additional 44,400 shares during the period. Finally, XTX Topco Ltd bought a new stake in Lucid Diagnostics during the 4th quarter worth approximately $246,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Lucid Diagnostics Stock Performance

LUCD stock opened at $1.05 on Thursday. Lucid Diagnostics has a fifty-two week low of $0.90 and a fifty-two week high of $1.63. The business’s 50-day moving average is $1.04 and its two-hundred day moving average is $1.17. The company has a market cap of $213.22 million, a price-to-earnings ratio of -2.23 and a beta of 1.07.

Lucid Diagnostics (NASDAQ:LUCD) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $1.26 million during the quarter, compared to analyst estimates of $1.38 million. Equities analysts predict that Lucid Diagnostics will post -0.23 earnings per share for the current year.

Lucid Diagnostics Company Profile

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company’s flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.