Lucid Diagnostics (NASDAQ:LUCD) Rating Lowered to “Sell” at Wall Street Zen

Lucid Diagnostics (NASDAQ:LUCD) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued reports about the company. Ascendiant Capital Markets boosted their price target on Lucid Diagnostics from $8.25 to $9.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a research note on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a report on Monday, March 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $3.00 price target on shares of Lucid Diagnostics in a report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.13.

Lucid Diagnostics Price Performance

Lucid Diagnostics stock opened at $1.03 on Friday. The business has a 50-day simple moving average of $1.25 and a two-hundred day simple moving average of $1.19. The company has a market cap of $201.11 million, a P/E ratio of -1.07 and a beta of 1.10. Lucid Diagnostics has a 52-week low of $0.95 and a 52-week high of $1.70.

Lucid Diagnostics (NASDAQ:LUCD) last released its quarterly earnings results on Wednesday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $1.50 million during the quarter, compared to analyst estimates of $1.39 million. Research analysts anticipate that Lucid Diagnostics will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Centiva Capital LP purchased a new position in Lucid Diagnostics in the 3rd quarter worth approximately $25,000. Sprott Inc. purchased a new position in Lucid Diagnostics in the 3rd quarter worth approximately $25,000. SG Americas Securities LLC purchased a new position in Lucid Diagnostics in the 3rd quarter worth approximately $26,000. Abel Hall LLC purchased a new position in Lucid Diagnostics in the 4th quarter worth approximately $33,000. Finally, JPMorgan Chase & Co. lifted its holdings in Lucid Diagnostics by 71,026.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company’s stock worth $38,000 after purchasing an additional 32,672 shares in the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.

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.