Two Seas Capital LP Invests $6.42 Million in Lucid Diagnostics Inc. $LUCD

Key Points

• Two Seas Capital LP acquired 6 million Lucid Diagnostics shares worth approximately $6.42 million, giving it a 2.95% stake. Institutional investors and hedge funds collectively own 74.01% of the company.
• Lucid Diagnostics reported quarterly revenue of $1.47 million and a loss of $0.06 per share, matching analyst expectations. Shares opened at $0.96, near the lower end of their 52-week range of $0.86 to $1.63.
• Analyst sentiment remains mixed but leans positive: four analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $4.19.

Two Seas Capital LP acquired a new stake in Lucid Diagnostics Inc. (NASDAQ:LUCD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,000,000 shares of the company's stock, valued at approximately $6,420,000. Two Seas Capital LP owned approximately 2.95% of Lucid Diagnostics at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in Lucid Diagnostics in the first quarter valued at $39,000. Goldman Sachs Group Inc. increased its holdings in Lucid Diagnostics by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company's stock worth $129,000 after purchasing an additional 22,727 shares during the period. Geode Capital Management LLC increased its holdings in Lucid Diagnostics by 420.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company's stock worth $1,814,000 after purchasing an additional 1,274,194 shares during the period. JPMorgan Chase & Co. raised its position in Lucid Diagnostics by 71,026.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company's stock valued at $38,000 after purchasing an additional 32,672 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in Lucid Diagnostics in the 2nd quarter valued at about $97,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Lucid Diagnostics Stock Up 0.4%

Shares of LUCD opened at $0.96 on Friday. The stock has a 50 day moving average price of $0.99 and a 200 day moving average price of $1.12. The company has a market capitalization of $195.98 million, a price-to-earnings ratio of -2.05 and a beta of 1.08. Lucid Diagnostics Inc. has a 52-week low of $0.86 and a 52-week high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $1.47 million for the quarter, compared to analyst estimates of $1.43 million. On average, equities analysts anticipate that Lucid Diagnostics Inc. will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings downgraded Lucid Diagnostics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday. Maxim Group reduced their target price on shares of Lucid Diagnostics from $3.00 to $2.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Wall Street Zen downgraded shares of Lucid Diagnostics from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Ascendiant Capital Markets boosted their price target on shares of Lucid Diagnostics from $9.00 to $9.25 and gave the stock a "buy" rating in a report on Monday, June 8th. Finally, BTIG Research reissued a "buy" rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $4.19.

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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