BTIG Research Reaffirms “Buy” Rating for Lucid Diagnostics (NASDAQ:LUCD)

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reissued by BTIG Research in a note issued to investors on Friday, Benzinga reports.

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

Lucid Diagnostics Trading Down 1.7%

Shares of NASDAQ LUCD opened at $0.33 on Friday. The stock has a market cap of $66.60 million, a PE ratio of -0.70 and a beta of 1.12. Lucid Diagnostics has a 12-month low of $0.30 and a 12-month high of $1.63. The company has a 50-day moving average of $0.78 and a 200 day moving average of $0.95.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Pine Valley Investments Ltd Liability Co lifted its stake in shares of Lucid Diagnostics by 73.2% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 34,283 shares of the company’s stock valued at $39,000 after purchasing an additional 14,487 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Lucid Diagnostics during the second quarter worth about $43,000. Sequoia Financial Advisors LLC purchased a new stake in Lucid Diagnostics during the second quarter worth about $99,000. State of Wyoming purchased a new stake in shares of Lucid Diagnostics during the second quarter worth approximately $101,000. Finally, Bank of America Corp DE increased its stake in shares of Lucid Diagnostics by 25.9% during the first quarter. Bank of America Corp DE now owns 88,527 shares of the company’s stock worth $102,000 after buying an additional 18,212 shares during the period. 74.01% of the stock is currently owned by institutional investors and hedge funds.

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.