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

Key Points

• Lucid Diagnostics Inc. (NASDAQ:LUCD) has been given a consensus recommendation of "Moderate Buy", with one analyst rating it a sell and five recommending a buy.
• The average 1-year target price for Lucid Diagnostics is $3.70, indicating potential for growth based on analyst forecasts.
• Director Dennis Matheis recently acquired 100,000 shares of the company, increasing his stake by 17.69%, suggesting confidence in the company's future.

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $3.70.

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $3.00 target price on shares of Lucid Diagnostics in a report on Wednesday, August 13th. Wall Street Zen upgraded shares of Lucid Diagnostics from a "sell" rating to a "hold" rating in a report on Tuesday, October 14th. Ascendiant Capital Markets raised their price target on shares of Lucid Diagnostics from $7.75 to $8.00 and gave the stock a "buy" rating in a report on Monday, October 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of Lucid Diagnostics in a report on Tuesday, October 14th. Finally, BTIG Research raised their target price on Lucid Diagnostics from $2.00 to $2.50 and gave the stock a "buy" rating in a research note on Friday, September 5th.

Lucid Diagnostics Price Performance

NASDAQ LUCD opened at $1.28 on Friday. The stock has a market capitalization of $170.85 million, a price-to-earnings ratio of -1.08 and a beta of 1.19. Lucid Diagnostics has a one year low of $0.75 and a one year high of $1.80. The business's fifty day moving average is $1.14 and its 200-day moving average is $1.18.

Insider Buying and Selling at Lucid Diagnostics

In other Lucid Diagnostics news, Director Dennis Matheis acquired 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average price of $1.02 per share, with a total value of $102,000.00. Following the completion of the purchase, the director directly owned 665,443 shares of the company's stock, valued at approximately $678,751.86. The trade was a 17.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lucid Diagnostics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUCD. SG Americas Securities LLC bought a new position in Lucid Diagnostics during the 3rd quarter valued at about $26,000. Luminus Management LLC lifted its position in Lucid Diagnostics by 14.8% during the third quarter. Luminus Management LLC now owns 912,805 shares of the company's stock valued at $922,000 after purchasing an additional 117,975 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Lucid Diagnostics during the second quarter valued at approximately $43,000. Invesco Ltd. bought a new position in Lucid Diagnostics during the second quarter valued at approximately $41,000. Finally, New York State Common Retirement Fund bought a new position in Lucid Diagnostics during the second quarter valued at approximately $97,000. 74.01% of the stock is owned by institutional investors.

Lucid Diagnostics Company Profile

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.

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