Lucid Diagnostics (NASDAQ:LUCD) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Lucid Diagnostics (NASDAQ:LUCD) released its earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.12), FiscalAI reports. The firm had revenue of $1.26 million during the quarter, compared to the consensus estimate of $1.38 million.

Lucid Diagnostics Stock Performance

Lucid Diagnostics stock traded down $0.02 during mid-day trading on Wednesday, reaching $1.02. The stock had a trading volume of 912,795 shares, compared to its average volume of 1,143,577. The firm has a market capitalization of $199.16 million, a PE ratio of -1.06 and a beta of 1.10. Lucid Diagnostics has a fifty-two week low of $0.95 and a fifty-two week high of $1.70. The stock’s 50-day simple moving average is $1.22 and its 200-day simple moving average is $1.19.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of Lucid Diagnostics during the fourth quarter valued at approximately $246,000. Millennium Management LLC bought a new stake in shares of Lucid Diagnostics in the fourth quarter valued at $168,000. Abel Hall LLC bought a new stake in shares of Lucid Diagnostics in the fourth quarter valued at $33,000. Squarepoint Ops LLC raised its stake in shares of Lucid Diagnostics by 1,871.7% in the fourth quarter. Squarepoint Ops LLC now owns 342,883 shares of the company’s stock valued at $374,000 after buying an additional 325,493 shares during the period. Finally, Barclays PLC raised its stake in shares of 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 during the period. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen lowered Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research report on Thursday, March 26th. BTIG Research restated a “buy” rating and set a $2.50 price objective on shares of Lucid Diagnostics in a research report on Monday, March 30th. Ascendiant Capital Markets lifted their price objective on Lucid Diagnostics from $8.25 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucid Diagnostics in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.13.

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.