Lucid Diagnostics’ (LUCD) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Lucid Diagnostics (NASDAQ:LUCD) in a research note released on Friday,Benzinga reports.

Several other equities analysts have also weighed in on LUCD. Needham & Company LLC restated a “buy” rating on shares of Lucid Diagnostics in a research report on Thursday, October 1st. Wall Street Zen downgraded shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Finally, Weiss Ratings lowered shares of Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.19.

Lucid Diagnostics Stock Performance

LUCD stock opened at $0.41 on Friday. The stock has a market cap of $83.53 million, a P/E ratio of -0.87 and a beta of 1.12. The stock’s fifty day simple moving average is $0.77 and its two-hundred day simple moving average is $0.94. Lucid Diagnostics has a 1-year low of $0.30 and a 1-year high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last announced its earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $1.47 million for the quarter, compared to analysts’ expectations of $1.43 million. As a group, analysts forecast that Lucid Diagnostics will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Lucid Diagnostics

A number of large investors have recently bought and sold shares of LUCD. Alyeska Investment Group L.P. bought a new position in shares of Lucid Diagnostics during the 2nd quarter worth $9,477,000. BlackRock Inc. purchased a new stake in Lucid Diagnostics in the 2nd quarter worth about $8,959,000. Two Seas Capital LP purchased a new stake in Lucid Diagnostics in the 2nd quarter worth about $6,420,000. Sunbelt Securities Inc. raised its stake in Lucid Diagnostics by 134.4% in the 1st quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company’s stock valued at $1,035,000 after acquiring an additional 516,014 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Lucid Diagnostics in the 2nd quarter valued at about $323,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

About Lucid Diagnostics

Lucid Diagnostics Inc (NASDAQ: LUCD) is a medical diagnostics company focused on improving the detection of esophageal disease. The company develops and commercializes diagnostic technologies intended to identify patients at elevated risk of esophageal cancer, particularly those with gastroesophageal reflux disease (GERD).

Lucid’s principal products include EsoGuard, a laboratory-developed DNA test that analyzes cells collected from the esophagus for molecular changes associated with Barrett’s esophagus and esophageal cancer risk, and EsoCheck, a swallowable, balloon-based device designed to collect cells from the esophageal lining.