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

Lucid Diagnostics Inc. (NASDAQ:LUCD) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.1250.

A number of brokerages have recently weighed in on LUCD. Ascendiant Capital Markets boosted their price target on Lucid Diagnostics from $8.25 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. BTIG Research reiterated a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a research report on Friday, May 15th. Maxim Group dropped their target price on Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Wednesday, May 6th.

Insider Buying and Selling

In other news, Director Dennis Matheis bought 245,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $245,000.00. Following the completion of the transaction, the director directly owned 1,033,443 shares in the company, valued at approximately $1,033,443. This represents a 31.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lucid Diagnostics

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Lucid Diagnostics by 41.5% in the 3rd quarter. Bank of America Corp DE now owns 40,663 shares of the company’s stock worth $41,000 after purchasing an additional 11,917 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Lucid Diagnostics by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock worth $129,000 after purchasing an additional 22,727 shares in the last quarter. Centiva Capital LP purchased a new stake in Lucid Diagnostics in the 3rd quarter worth approximately $25,000. Sprott Inc. purchased a new stake in Lucid Diagnostics in the 3rd quarter worth approximately $25,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Lucid Diagnostics in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Lucid Diagnostics Price Performance

LUCD stock opened at $0.97 on Friday. The business has a 50-day moving average price of $1.10 and a 200 day moving average price of $1.17. The company has a market capitalization of $196.41 million, a P/E ratio of -2.06 and a beta of 1.08. Lucid Diagnostics has a 1-year low of $0.90 and a 1-year high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last announced its earnings results on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $1.26 million for the quarter, compared to analyst estimates of $1.38 million. On average, analysts anticipate that Lucid Diagnostics will post -0.22 earnings per share for the current fiscal 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.