Lucid Diagnostics Inc. (NASDAQ:LUCD) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Lucid Diagnostics has a “Moderate Buy” consensus rating from five brokerages: four recommend buying the stock, while one rates it a sell. The average 12-month price target is $4.19.
• LUCD shares opened at $0.78, near their 12-month low of $0.77, with a market capitalization of approximately $159 million. The company reported a quarterly loss of $0.06 per share and $1.47 million in revenue, broadly matching analyst expectations.
• Institutional investors and hedge funds own 74.01% of the stock, with several major funds—including Alyeska Investment Group, BlackRock and Two Seas Capital—establishing new positions during the second quarter.

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $4.1875.

A number of analysts have recently issued reports on the stock. Ascendiant Capital Markets raised their target price on shares of Lucid Diagnostics from $9.00 to $9.25 and gave the stock a "buy" rating in a research note on Monday, June 8th. Wall Street Zen lowered shares of Lucid Diagnostics from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. BTIG Research reissued a "buy" rating and issued a $2.50 price target on shares of Lucid Diagnostics in a report on Monday, August 17th. Finally, Weiss Ratings downgraded shares of Lucid Diagnostics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 18th.

Lucid Diagnostics Trading Down 0.0%

Shares of NASDAQ LUCD opened at $0.78 on Tuesday. The company has a market capitalization of $159.06 million, a P/E ratio of -1.67 and a beta of 1.10. Lucid Diagnostics has a 12 month low of $0.77 and a 12 month high of $1.63. The stock has a 50 day moving average of $0.95 and a 200-day moving average of $1.08.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06). The business had revenue of $1.47 million during the quarter, compared to the consensus estimate of $1.43 million. Analysts predict that Lucid Diagnostics will post -0.23 EPS for the current fiscal year.

Institutional Trading of Lucid Diagnostics

Hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new stake in shares of Lucid Diagnostics during the second quarter worth $9,477,000. BlackRock Inc. acquired a new position in shares of Lucid Diagnostics in the second quarter valued at about $8,959,000. Two Seas Capital LP acquired a new position in shares of Lucid Diagnostics in the second quarter valued at about $6,420,000. Sunbelt Securities Inc. increased its position in Lucid Diagnostics by 134.4% during the first quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company's stock worth $1,035,000 after acquiring an additional 516,014 shares during the period. Finally, XML Financial LLC increased its position in Lucid Diagnostics by 44.8% during the second quarter. XML Financial LLC now owns 323,195 shares of the company's stock worth $346,000 after acquiring an additional 100,000 shares during the period. 74.01% of the stock is owned by institutional investors and hedge funds.

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.

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