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

Key Points

• Analysts have a “Moderate Buy” consensus on Lucid Diagnostics, with four buy ratings and one sell rating among five firms. The average 12-month price target is $4.19, substantially above the stock’s recent $0.91 price.
• Director Dennis Matheis purchased 245,000 shares at $1.00 each, increasing his position by 31.07%; insiders own 6.90% of the company. Institutional investors and hedge funds hold 74.01% of outstanding shares.
• Lucid Diagnostics reported a quarterly loss of $0.07 per share, missing the $0.05 consensus loss estimate, while revenue of $1.26 million also fell short of expectations. The stock is near its one-year low of $0.90.

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.1875.

A number of equities research analysts have recently commented on the company. Ascendiant Capital Markets raised their target price on Lucid Diagnostics from $9.00 to $9.25 and gave the company a "buy" rating in a research report on Monday, June 8th. Weiss Ratings cut Lucid Diagnostics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, July 20th. Maxim Group lowered their price target on Lucid Diagnostics from $3.00 to $2.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. BTIG Research reiterated a "buy" rating and set a $2.50 price target on shares of Lucid Diagnostics in a research report on Friday, May 15th. Finally, Wall Street Zen lowered Lucid Diagnostics from a "hold" rating to a "sell" rating in a report on Saturday, July 4th.

Insider Buying and Selling at Lucid Diagnostics

In other Lucid Diagnostics news, Director Dennis Matheis bought 245,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $245,000.00. Following the transaction, the director directly owned 1,033,443 shares of the company's stock, valued at approximately $1,033,443. This represents a 31.07% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lucid Diagnostics

Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new position in Lucid Diagnostics during the first quarter valued at $39,000. Goldman Sachs Group Inc. raised its position in shares of 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 last quarter. Geode Capital Management LLC raised its position in shares of 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 last quarter. JPMorgan Chase & Co. lifted its stake 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 buying 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 worth about $97,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Lucid Diagnostics Price Performance

LUCD opened at $0.91 on Monday. The firm has a fifty day moving average price of $1.02 and a 200 day moving average price of $1.15. Lucid Diagnostics has a 1 year low of $0.90 and a 1 year high of $1.63. The stock has a market cap of $184.31 million, a P/E ratio of -1.93 and a beta of 1.07.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $1.26 million for the quarter, compared to the consensus estimate of $1.38 million. Equities analysts expect that Lucid Diagnostics will post -0.23 EPS for the current year.

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.

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.