Lucid Diagnostics (NASDAQ:LUCD) Announces Quarterly Earnings Results

Lucid Diagnostics (NASDAQ:LUCD) announced its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06), FiscalAI reports. The company had revenue of $1.47 million for the quarter, compared to analysts’ expectations of $1.43 billion.

Lucid Diagnostics Stock Performance

Shares of NASDAQ LUCD traded down $0.01 during midday trading on Thursday, reaching $0.97. The stock had a trading volume of 527,627 shares, compared to its average volume of 1,266,662. The stock has a 50-day moving average of $0.99 and a 200-day moving average of $1.13. Lucid Diagnostics has a 12-month low of $0.86 and a 12-month high of $1.63. The company has a market capitalization of $197.79 million, a price-to-earnings ratio of -2.07 and a beta of 1.08.

Insider Transactions at Lucid Diagnostics

In related news, Director Dennis Matheis acquired 245,000 shares of Lucid Diagnostics stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $245,000.00. Following the completion of the transaction, the director directly owned 1,033,443 shares in the company, valued at approximately $1,033,443. This represents a 31.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Lucid Diagnostics

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC purchased a new stake in Lucid Diagnostics in the 4th quarter valued at about $168,000. Barclays PLC increased its holdings in shares of Lucid Diagnostics by 40.8% in the 4th quarter. Barclays PLC now owns 141,167 shares of the company’s stock valued at $154,000 after acquiring an additional 40,891 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Lucid Diagnostics by 28.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 224,921 shares of the company’s stock worth $245,000 after purchasing an additional 50,053 shares in the last quarter. Deutsche Bank AG acquired a new stake in Lucid Diagnostics during the 4th quarter worth about $88,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Lucid Diagnostics during the 2nd quarter worth about $43,000. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of Lucid Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered Lucid Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Ascendiant Capital Markets upped their price objective on Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a research report on Monday, June 8th. BTIG Research reissued a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a research report on Friday, May 15th. Finally, Maxim Group cut their price target on Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.19.

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.