Lucid Diagnostics Inc. (NASDAQ:LUCD) Receives Average Rating of “Moderate Buy” from Brokerages

Lucid Diagnostics Inc. (NASDAQ:LUCD) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $4.1875.

A number of equities research analysts have recently commented on LUCD shares. Ascendiant Capital Markets increased 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 restated a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a report on Monday. Wall Street Zen lowered Lucid Diagnostics from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings downgraded Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Maxim Group decreased their price target on Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, May 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Securities LLC purchased a new position in shares of Lucid Diagnostics in the second quarter worth approximately $43,000. Alyeska Investment Group L.P. acquired a new stake in shares of Lucid Diagnostics during the second quarter valued at approximately $9,477,000. Jefferies Financial Group Inc. purchased a new stake in shares of Lucid Diagnostics in the 2nd quarter valued at approximately $139,000. Bank of America Corp DE purchased a new stake in shares of Lucid Diagnostics in the 2nd quarter valued at approximately $104,000. Finally, Two Seas Capital LP acquired a new position in Lucid Diagnostics in the 2nd quarter worth approximately $6,420,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Lucid Diagnostics Price Performance

NASDAQ LUCD opened at $0.96 on Friday. 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 $195.19 million, a P/E ratio of -2.04 and a beta of 1.08. The company’s 50 day simple moving average is $0.99 and its 200 day simple moving average is $1.12.

Lucid Diagnostics (NASDAQ:LUCD) last issued its earnings results on Thursday, August 13th. 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 for the quarter, compared to the consensus estimate of $1.43 million. On average, analysts anticipate that Lucid Diagnostics will post -0.23 earnings per share for the current year.

About Lucid Diagnostics

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.