Wall Street Zen Upgrades Lucid Diagnostics (NASDAQ:LUCD) to Hold

Lucid Diagnostics (NASDAQ:LUCD) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also issued reports on the company. Ascendiant Capital Markets boosted their target price on Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a research note on Monday, June 8th. BTIG Research restated a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucid Diagnostics in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a research note on Thursday, March 26th. Finally, Maxim Group decreased their price objective on Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Four 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.19.

Lucid Diagnostics Price Performance

Shares of LUCD opened at $0.96 on Friday. The firm has a market cap of $195.09 million, a PE ratio of -2.04 and a beta of 1.08. The stock’s fifty day moving average price is $1.09 and its two-hundred day moving average price is $1.17. Lucid Diagnostics has a 1 year low of $0.90 and a 1 year high of $1.63.

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

Insider Activity

In related news, Director Dennis Matheis acquired 245,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $1.00 per share, for a total transaction of $245,000.00. Following the purchase, the director owned 1,033,443 shares in the company, valued at $1,033,443. This trade represents a 31.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Lucid Diagnostics

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Lucid Diagnostics by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,523,997 shares of the company’s stock worth $4,569,000 after acquiring an additional 396,719 shares during the last quarter. Masters Capital Management LLC increased its stake in Lucid Diagnostics by 46.6% in the 3rd 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. Aberdeen Group plc increased its stake in Lucid Diagnostics by 38.3% in the 4th quarter. Aberdeen Group plc now owns 3,457,894 shares of the company’s stock worth $3,769,000 after acquiring an additional 957,894 shares during the last quarter. Two Seas Capital LP bought a new position in Lucid Diagnostics in the 3rd quarter worth about $3,030,000. Finally, Ghisallo Capital Management LLC bought a new position in Lucid Diagnostics in the 3rd quarter worth about $2,990,000. 74.01% of the stock is currently owned by institutional investors.

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.