Analysts Set Lucid Diagnostics Inc. (NASDAQ:LUCD) PT at $4.19

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) have been assigned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $4.1875.

LUCD has been the topic of several recent analyst reports. Ascendiant Capital Markets raised their price target on Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a report on Monday, June 8th. Maxim Group cut their price objective on Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, May 15th. BTIG Research reaffirmed a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a research note on Monday, August 17th. Wall Street Zen lowered shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings cut shares of Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th.

Lucid Diagnostics Price Performance

LUCD opened at $0.98 on Friday. The company has a fifty day moving average price of $0.99 and a 200-day moving average price of $1.11. The firm has a market capitalization of $199.99 million, a P/E ratio of -2.09 and a beta of 1.08. Lucid Diagnostics has a one year low of $0.86 and a one year high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $1.47 million during the quarter, compared to analysts’ expectations of $1.43 million. On average, analysts expect that Lucid Diagnostics will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Centiva Capital LP purchased a new stake in Lucid Diagnostics during the third quarter valued at about $25,000. Cubist Systematic Strategies LLC purchased a new position in shares of Lucid Diagnostics in the 1st quarter worth about $39,000. Abel Hall LLC purchased a new position in shares of Lucid Diagnostics in the 4th quarter worth about $33,000. JPMorgan Chase & Co. boosted its holdings in shares of Lucid Diagnostics by 71,026.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company’s stock worth $38,000 after purchasing an additional 32,672 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its position in shares of Lucid Diagnostics by 73.2% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 34,283 shares of the company’s stock valued at $39,000 after purchasing an additional 14,487 shares during the last quarter. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

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.