Lucid Diagnostics (NASDAQ:LUCD) Receives "Buy" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on Lucid Diagnostics and set a $2.50 price target, implying 158.34% upside from the prior close.
• Analyst sentiment is broadly positive, with four Buy ratings and one Sell rating; the consensus is “Moderate Buy” with an average target price of $4.19.
• Lucid reported quarterly revenue of $1.47 million and an EPS loss of $0.06, matching earnings expectations. Institutional investors own 74.01% of the company, while a director recently purchased 245,000 shares.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at BTIG Research in a report released on Monday,Benzinga reports. They currently have a $2.50 price objective on the stock. BTIG Research's price objective suggests a potential upside of 158.34% from the company's previous close.

Several other equities analysts also recently issued reports on the stock. Ascendiant Capital Markets lifted 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. Wall Street Zen cut Lucid Diagnostics from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Maxim Group decreased their target price on Lucid Diagnostics from $3.00 to $2.00 and set a "buy" rating on the stock in a 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 report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $4.19.

Lucid Diagnostics Stock Performance

NASDAQ LUCD opened at $0.97 on Monday. Lucid Diagnostics has a 1-year low of $0.86 and a 1-year high of $1.63. The company has a market capitalization of $196.68 million, a price-to-earnings ratio of -2.06 and a beta of 1.08. The stock's 50 day moving average is $0.99 and its two-hundred day moving average is $1.13.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.43 million. On average, analysts predict that Lucid Diagnostics will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Dennis Matheis bought 245,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $1.00 per share, with a total value of $245,000.00. Following the completion of the purchase, the director owned 1,033,443 shares of the company's stock, valued at approximately $1,033,443. This trade represents a 31.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.90% of the company's stock.

Institutional Trading of Lucid Diagnostics

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE acquired a new position in Lucid Diagnostics in the second quarter valued at about $104,000. Two Seas Capital LP acquired a new position in shares of Lucid Diagnostics in the 2nd quarter valued at approximately $6,420,000. Ieq Capital LLC bought a new stake in Lucid Diagnostics during the 2nd quarter worth approximately $102,000. BlackRock Inc. bought a new position in Lucid Diagnostics in the second quarter valued at approximately $8,959,000. Finally, Deutsche Bank AG acquired a new position in shares of Lucid Diagnostics in the second quarter valued at approximately $158,000. Institutional investors own 74.01% of the company's stock.

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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