Lucid Diagnostics Inc. (NASDAQ:LUCD) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) have been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.19.

A number of research analysts have recently commented on LUCD shares. Needham & Company LLC restated a “buy” rating on shares of Lucid Diagnostics in a research report on Thursday, October 1st. BTIG Research reiterated a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research report on Monday, August 17th. Wall Street Zen lowered Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings cut Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new stake in Lucid Diagnostics in the second quarter valued at approximately $9,477,000. BlackRock Inc. purchased a new position in Lucid Diagnostics in the 2nd quarter worth approximately $8,959,000. Two Seas Capital LP bought a new position in shares of Lucid Diagnostics in the 2nd quarter worth $6,420,000. Sunbelt Securities Inc. increased its holdings in shares of 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 buying an additional 516,014 shares during the last quarter. Finally, XML Financial LLC raised its position in shares of Lucid Diagnostics by 44.8% during the 2nd quarter. XML Financial LLC now owns 323,195 shares of the company’s stock valued at $346,000 after buying an additional 100,000 shares in the last quarter. 74.01% of the stock is currently owned by institutional investors.

Lucid Diagnostics Trading Down 1.9%

Shares of NASDAQ:LUCD opened at $0.64 on Friday. The company has a 50 day moving average of $0.87 and a 200 day moving average of $1.00. The stock has a market cap of $129.67 million, a P/E ratio of -1.36 and a beta of 1.12. Lucid Diagnostics has a 12 month low of $0.50 and a 12 month high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $1.47 million during the quarter, compared to analysts’ expectations of $1.43 million. On average, equities analysts forecast that Lucid Diagnostics will post -0.23 earnings per share for the current fiscal year.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc is a commercial-stage medical diagnostics company focused on detecting esophageal precancer and cancer at an earlier, more treatable stage. The company is a subsidiary of PAVmed Inc and develops diagnostic products intended to help identify patients at risk for esophageal adenocarcinoma, a cancer associated with Barrett’s esophagus and chronic gastroesophageal reflux disease.

Lucid’s primary products are EsoGuard, a laboratory-developed DNA test, and EsoCheck, a noninvasive, swallowable balloon device used to collect cells from the esophagus.