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

Lucid Diagnostics (NASDAQ:LUCD) released its quarterly earnings results on Wednesday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04), FiscalAI reports. The company had revenue of $1.47 million during the quarter, compared to analyst estimates of $1.43 million.

Lucid Diagnostics Trading Up 1.9%

Lucid Diagnostics stock traded up $0.02 during midday trading on Wednesday, hitting $0.98. The stock had a trading volume of 1,067,848 shares, compared to its average volume of 1,271,595. The business has a fifty day moving average price of $0.99 and a 200 day moving average price of $1.13. Lucid Diagnostics has a 12 month low of $0.86 and a 12 month high of $1.63. The stock has a market cap of $199.01 million, a P/E ratio of -2.09 and a beta of 1.08.

Insider Buying and Selling

In other news, Director Dennis Matheis bought 245,000 shares of Lucid Diagnostics stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $1.00 per share, with a total value of $245,000.00. Following the acquisition, the director directly owned 1,033,443 shares in the company, valued at approximately $1,033,443. This represents a 31.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lucid Diagnostics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC bought a new position in Lucid Diagnostics during the fourth quarter worth $168,000. Barclays PLC boosted its holdings in Lucid Diagnostics by 40.8% in the fourth quarter. Barclays PLC now owns 141,167 shares of the company’s stock worth $154,000 after purchasing an additional 40,891 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Lucid Diagnostics by 28.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 224,921 shares of the company’s stock valued at $245,000 after purchasing an additional 50,053 shares during the last quarter. Deutsche Bank AG bought a new stake in Lucid Diagnostics during the fourth quarter valued at $88,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lucid Diagnostics during the second quarter worth $43,000. 74.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Ascendiant Capital Markets raised their price objective on Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a research note on Monday, June 8th. Wall Street Zen cut Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Maxim Group decreased their price target 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. 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. Finally, BTIG Research reaffirmed a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a report on Friday, May 15th. Four 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.