Lucid Diagnostics (NASDAQ:LUCD) Issues Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Lucid Diagnostics reported a quarterly loss of $0.08 per share, missing analyst estimates by $0.04, while revenue of $1.47 million slightly exceeded expectations of $1.43 million.
• Shares rose 1.9% to $0.98 after the results, but remain near the lower end of their 12-month range of $0.86 to $1.63.
• Director Dennis Matheis purchased 245,000 shares for $245,000, while analysts maintain a “Moderate Buy” consensus with an average price target of $4.19.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04), FiscalAI reports. The business had revenue of $1.47 million during the quarter, compared to analysts' expectations of $1.43 million.

Lucid Diagnostics Stock Up 1.9%

Shares of NASDAQ LUCD traded up $0.02 on Wednesday, hitting $0.98. The company had a trading volume of 1,067,848 shares, compared to its average volume of 1,271,595. Lucid Diagnostics has a 12-month low of $0.86 and a 12-month high of $1.63. The firm has a market capitalization of $199.01 million, a P/E ratio of -2.09 and a beta of 1.08. The business has a 50 day moving average of $0.99 and a two-hundred day moving average of $1.13.

Insider Activity at Lucid Diagnostics

In related news, Director Dennis Matheis bought 245,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $1.00 per share, for a total transaction of $245,000.00. Following the acquisition, the director owned 1,033,443 shares in the company, valued at $1,033,443. This represents a 31.07% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in shares of Lucid Diagnostics during the fourth quarter valued at approximately $168,000. Barclays PLC grew its holdings in Lucid Diagnostics by 40.8% during the 4th quarter. Barclays PLC now owns 141,167 shares of the company's stock valued at $154,000 after purchasing an additional 40,891 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lucid Diagnostics by 28.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 224,921 shares of the company's stock worth $245,000 after buying an additional 50,053 shares during the period. Deutsche Bank AG purchased a new stake in Lucid Diagnostics during the 4th quarter worth $88,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Lucid Diagnostics in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 74.01% of the company's stock.

Wall Street Analyst Weigh In

LUCD has been the topic of several research analyst reports. Wall Street Zen lowered Lucid Diagnostics from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Maxim Group dropped their target price on shares of Lucid Diagnostics from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Ascendiant Capital Markets raised their price target on shares of Lucid Diagnostics from $9.00 to $9.25 and gave the company a "buy" rating in a report on Monday, June 8th. BTIG Research reaffirmed a "buy" rating and set a $2.50 price target on shares of Lucid Diagnostics in a research report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Lucid Diagnostics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lucid Diagnostics currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.19.

About Lucid Diagnostics

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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