Lucid Diagnostics Inc. (NASDAQ:LUCD) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is moderately bullish: Four of five analysts rate Lucid Diagnostics a buy, while one rates it a sell; the average 12-month price target is $4.19.
• The stock opened at $0.41, within its 12-month range of $0.30 to $1.63. Institutional investors and hedge funds own 74.01% of its shares.
• Lucid reported a quarterly loss of $0.06 per share, matching estimates, and revenue of $1.47 million, above the $1.43 million consensus.

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) have received an average rating of "Moderate Buy" from the five ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $4.19.

A number of research analysts have recently commented on the company. Weiss Ratings lowered Lucid Diagnostics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 18th. Needham & Company LLC restated a "buy" rating on shares of Lucid Diagnostics in a research note on Thursday, October 1st. Finally, BTIG Research restated a "buy" rating on shares of Lucid Diagnostics in a research note on Friday, October 23rd.

Institutional Trading of Lucid Diagnostics

Several hedge funds and other institutional investors have recently bought and sold shares of LUCD. Alyeska Investment Group L.P. acquired a new position in shares of Lucid Diagnostics during the second quarter valued at about $9,477,000. BlackRock Inc. acquired a new stake in Lucid Diagnostics during the second quarter worth about $8,959,000. Two Seas Capital LP acquired a new stake in Lucid Diagnostics during the second quarter worth about $6,420,000. Sunbelt Securities Inc. grew 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 buying an additional 516,014 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Lucid Diagnostics during the second quarter worth about $323,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Lucid Diagnostics Stock Performance

NASDAQ LUCD opened at $0.41 on Wednesday. Lucid Diagnostics has a twelve month low of $0.30 and a twelve month high of $1.63. The stock has a market capitalization of $83.13 million, a PE ratio of -0.87 and a beta of 1.19. The stock has a 50-day simple moving average of $0.69 and a 200 day simple moving average of $1.02.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.43 million. As a group, equities research analysts forecast that Lucid Diagnostics will post -0.23 EPS for the current fiscal year.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc NASDAQ: LUCD is a medical diagnostics company focused on improving the detection of esophageal disease. The company develops and commercializes diagnostic technologies intended to identify patients at elevated risk of esophageal cancer, particularly those with gastroesophageal reflux disease (GERD).

Lucid's principal products include EsoGuard, a laboratory-developed DNA test that analyzes cells collected from the esophagus for molecular changes associated with Barrett's esophagus and esophageal cancer risk, and EsoCheck, a swallowable, balloon-based device designed to collect cells from the esophageal lining.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.