Lucid Diagnostics Inc. (NASDAQ:LUCD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Lucid Diagnostics Inc. (NASDAQ:LUCD) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $4.1875.

LUCD has been the subject of several research reports. Ascendiant Capital Markets raised their price target on shares of Lucid Diagnostics from $9.00 to $9.25 and gave the stock a “buy” rating in a research note on Monday, June 8th. Wall Street Zen lowered shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings cut shares of Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 18th. Finally, BTIG Research reiterated a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a research note on Monday, August 17th.

Institutional Trading of Lucid Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. acquired a new position in Lucid Diagnostics during the second quarter valued at approximately $9,477,000. BlackRock Inc. acquired a new position in shares of Lucid Diagnostics during the 2nd quarter worth approximately $8,959,000. Two Seas Capital LP acquired a new position in shares of Lucid Diagnostics during the 2nd quarter worth approximately $6,420,000. Sunbelt Securities Inc. raised its stake in shares of Lucid Diagnostics by 134.4% during the 1st quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company’s stock worth $1,035,000 after purchasing an additional 516,014 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Lucid Diagnostics during the 2nd quarter worth approximately $323,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

Lucid Diagnostics Price Performance

LUCD opened at $0.85 on Tuesday. The company has a market capitalization of $171.76 million, a price-to-earnings ratio of -1.80 and a beta of 1.10. The business’s 50-day moving average price is $0.94 and its two-hundred day moving average price is $1.06. Lucid Diagnostics has a 1 year low of $0.75 and a 1 year high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.43 million. Sell-side analysts anticipate that Lucid Diagnostics will post -0.23 earnings per share for the current fiscal year.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc is a medical diagnostics company focused on the detection of precancerous conditions and cancers of the esophagus. The company develops and commercializes diagnostic products intended to support earlier identification of patients at elevated risk, particularly those with Barrett’s esophagus, a condition associated with esophageal cancer.

Lucid’s principal products include EsoGuard, a laboratory-developed DNA test that analyzes cells collected from the esophagus for molecular changes associated with precancerous disease, and EsoCheck, a noninvasive, swallowable balloon capsule and catheter system designed to collect those cells from the esophageal lining.