Lucid Diagnostics’ (LUCD) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Lucid Diagnostics (NASDAQ:LUCD) in a research note issued to investors on Monday,Benzinga reports. They currently have a $2.50 price objective on the stock.

A number of other equities research analysts also recently commented on LUCD. Wall Street Zen downgraded shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Maxim Group lowered their price target on Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Weiss Ratings upgraded Lucid Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Finally, Ascendiant Capital Markets lifted their price objective on Lucid Diagnostics from $9.00 to $9.25 and gave the stock a “buy” rating in a report on Monday, June 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.19.

Lucid Diagnostics Stock Performance

LUCD opened at $1.01 on Monday. The company’s 50-day simple moving average is $0.99 and its two-hundred day simple moving average is $1.12. The stock has a market capitalization of $205.27 million, a P/E ratio of -2.15 and a beta of 1.08. Lucid Diagnostics has a 52-week low of $0.86 and a 52-week high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $1.47 million during the quarter, compared to the consensus estimate of $1.43 million. Research analysts forecast that Lucid Diagnostics will post -0.23 EPS for the current fiscal year.

Institutional Trading of Lucid Diagnostics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUCD. Centiva Capital LP purchased a new position in shares of Lucid Diagnostics during the 3rd quarter worth $25,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Lucid Diagnostics in the 1st quarter worth $39,000. Abel Hall LLC bought a new position in Lucid Diagnostics in the 4th quarter worth $33,000. JPMorgan Chase & Co. raised 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 during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its position in Lucid Diagnostics by 73.2% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 34,283 shares of the company’s stock valued at $39,000 after purchasing an additional 14,487 shares in the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.

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.