Brokerages Set Lucid Diagnostics Inc. (NASDAQ:LUCD) PT at $3.94

Lucid Diagnostics Inc. (NASDAQ:LUCD) has earned an average rating 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 rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $3.9375.

LUCD has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lucid Diagnostics in a research note on Monday, December 29th. Wall Street Zen cut shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Ascendiant Capital Markets boosted their price target on Lucid Diagnostics from $8.00 to $8.25 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Lucid Diagnostics in a research note on Thursday, November 13th.

Lucid Diagnostics Trading Up 0.8%

Shares of LUCD opened at $1.19 on Thursday. The firm has a 50-day moving average price of $1.09 and a 200 day moving average price of $1.11. The firm has a market capitalization of $163.84 million, a P/E ratio of -1.14 and a beta of 1.22. Lucid Diagnostics has a 12-month low of $0.80 and a 12-month high of $1.80.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Wednesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $1.35 million. Equities research analysts predict that Lucid Diagnostics will post -0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lucid Diagnostics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in Lucid Diagnostics by 41.5% in the 3rd quarter. Bank of America Corp DE now owns 40,663 shares of the company’s stock worth $41,000 after purchasing an additional 11,917 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Lucid Diagnostics by 35.7% in the first quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock valued at $129,000 after buying an additional 22,727 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Lucid Diagnostics during the second quarter valued at approximately $29,000. Centiva Capital LP acquired a new position in shares of Lucid Diagnostics in the 3rd quarter valued at $25,000. Finally, Sprott Inc. bought a new position in shares of Lucid Diagnostics during the 3rd quarter worth approximately $25,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

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.