Lucid Diagnostics (NASDAQ:LUCD) Downgraded to “Sell” Rating by Wall Street Zen

Lucid Diagnostics (NASDAQ:LUCD) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Lucid Diagnostics in a research report on Thursday, March 26th. Maxim Group lowered their price objective 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. BTIG Research reissued a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research note on Friday, May 15th. Ascendiant Capital Markets upped their target price on Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a research report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lucid Diagnostics in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4.19.

Lucid Diagnostics Stock Performance

Shares of NASDAQ LUCD opened at $1.07 on Friday. The company has a market capitalization of $217.28 million, a P/E ratio of -2.28 and a beta of 1.07. Lucid Diagnostics has a 52-week low of $0.90 and a 52-week high of $1.63. The company’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.17.

Lucid Diagnostics (NASDAQ:LUCD) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $1.26 million for the quarter, compared to the consensus estimate of $1.38 million. Analysts forecast that Lucid Diagnostics will post -0.23 earnings per share for the current year.

Insider Transactions at Lucid Diagnostics

In related news, Director Dennis Matheis purchased 245,000 shares of Lucid Diagnostics stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $245,000.00. Following the completion of the acquisition, the director owned 1,033,443 shares of the company’s stock, valued at $1,033,443. This trade represents a 31.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in Lucid Diagnostics in the 1st quarter valued at about $39,000. Goldman Sachs Group Inc. boosted its holdings in Lucid Diagnostics by 35.7% in the first quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock worth $129,000 after acquiring an additional 22,727 shares in the last quarter. Geode Capital Management LLC grew its stake in Lucid Diagnostics by 420.3% in the second quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company’s stock valued at $1,814,000 after acquiring an additional 1,274,194 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Lucid Diagnostics by 71,026.1% during the second quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company’s stock valued at $38,000 after acquiring an additional 32,672 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Lucid Diagnostics during the second quarter valued at approximately $97,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

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.