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

Lucid Diagnostics Inc. (NASDAQ:LUCD) has earned a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.9375.

LUCD has been the subject of several recent research reports. Wall Street Zen lowered shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and issued a $3.00 price target on shares of Lucid Diagnostics in a research note on Thursday, November 13th. Finally, Ascendiant Capital Markets increased their price objective on Lucid Diagnostics from $8.00 to $8.25 and gave the company a “buy” rating in a research note on Wednesday, December 10th.

Lucid Diagnostics Stock Up 5.3%

LUCD opened at $1.19 on Thursday. Lucid Diagnostics has a 52 week low of $0.80 and a 52 week high of $1.80. The business has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.11. The firm has a market cap of $163.84 million, a P/E ratio of -1.14 and a beta of 1.22.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Wednesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $1.35 million. Sell-side analysts expect that Lucid Diagnostics will post -0.84 earnings per share for the current year.

Hedge Funds Weigh In On Lucid Diagnostics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Lucid Diagnostics by 9.6% during the third quarter. Vanguard Group Inc. now owns 4,523,997 shares of the company’s stock worth $4,569,000 after buying an additional 396,719 shares during the period. Masters Capital Management LLC lifted its stake in Lucid Diagnostics by 46.6% in the third quarter. Masters Capital Management LLC now owns 3,999,273 shares of the company’s stock worth $4,039,000 after acquiring an additional 1,272,000 shares during the last quarter. Two Seas Capital LP acquired a new position in Lucid Diagnostics during the 3rd quarter worth approximately $3,030,000. Ghisallo Capital Management LLC purchased a new stake in shares of Lucid Diagnostics in the 3rd quarter valued at approximately $2,990,000. Finally, Aberdeen Group plc acquired a new stake in shares of Lucid Diagnostics in the 3rd quarter valued at $2,525,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

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.