Lucid Diagnostics (NASDAQ:LUCD) Stock Rating Reaffirmed as Buy by BTIG Research

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a report issued on Friday, Benzinga reports.

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

Lucid Diagnostics Trading Up 29.7%

LUCD stock traded up $0.10 during trading hours on Friday, hitting $0.43. 72,057,197 shares of the stock were exchanged, compared to its average volume of 1,898,379. The firm has a market capitalization of $86.38 million, a P/E ratio of -0.92 and a beta of 1.12. The company has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $0.95. Lucid Diagnostics has a 12 month low of $0.30 and a 12 month high of $1.63.

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

Institutional Investors Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pine Valley Investments Ltd Liability Co grew its holdings in 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 worth $39,000 after acquiring an additional 14,487 shares during the period. Two Sigma Securities LLC acquired a new stake in Lucid Diagnostics during the 2nd quarter worth about $43,000. Sequoia Financial Advisors LLC acquired a new stake in Lucid Diagnostics during the 2nd quarter worth about $99,000. State of Wyoming acquired a new stake in Lucid Diagnostics during the 2nd quarter worth about $101,000. Finally, Bank of America Corp DE grew its holdings in Lucid Diagnostics by 25.9% during 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 during the period. 74.01% of the stock is currently owned by institutional investors.

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.