Lucid Diagnostics (NASDAQ:LUCD) Announces Earnings Results

Lucid Diagnostics (NASDAQ:LUCD) posted its quarterly earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04), FiscalAI reports. The firm had revenue of $1.21 million for the quarter, compared to the consensus estimate of $1.35 million.

Lucid Diagnostics Price Performance

Shares of LUCD traded up $0.06 during mid-day trading on Wednesday, reaching $1.10. The company’s stock had a trading volume of 567,135 shares, compared to its average volume of 1,046,936. The company’s 50 day moving average is $1.14 and its 200 day moving average is $1.17. Lucid Diagnostics has a 12-month low of $0.75 and a 12-month high of $1.80. The stock has a market cap of $146.16 million, a PE ratio of -0.92 and a beta of 1.22.

Insider Buying and Selling at Lucid Diagnostics

In other news, Director Dennis Matheis purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $1.02 per share, with a total value of $102,000.00. Following the completion of the acquisition, the director directly owned 665,443 shares of the company’s stock, valued at approximately $678,751.86. This trade represents a 17.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Lucid Diagnostics in the first quarter worth $39,000. JPMorgan Chase & Co. boosted its stake in Lucid Diagnostics by 71,026.1% in 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 during the period. Invesco Ltd. bought a new position in shares of Lucid Diagnostics during the second quarter worth about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Lucid Diagnostics during the second quarter worth approximately $43,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Lucid Diagnostics during the second quarter valued at about $97,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on LUCD. Wall Street Zen upgraded shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Wednesday, November 5th. Ascendiant Capital Markets lifted their price target on shares of Lucid Diagnostics from $7.75 to $8.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. BTIG Research boosted their price objective on Lucid Diagnostics from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Lucid Diagnostics in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lucid Diagnostics currently has a consensus rating of “Moderate Buy” and an average price target of $3.70.

About Lucid Diagnostics

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.