Analysts Set Lucid Diagnostics Inc. (NASDAQ:LUCD) Price Target at $4.19

Lucid Diagnostics Inc. (NASDAQ:LUCD) has received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.1875.

LUCD has been the subject of a number of analyst reports. BTIG Research reiterated a “buy” rating and set a $2.50 price target on shares of Lucid Diagnostics in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Wednesday, May 6th. Ascendiant Capital Markets lifted their target price on Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a research report on Monday, June 8th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research note on Thursday, March 26th. Finally, Wall Street Zen downgraded shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, July 4th.

Insider Buying and Selling

In other news, Director Dennis Matheis acquired 245,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $1.00 per share, for a total transaction of $245,000.00. Following the purchase, the director 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 SEC, which can be accessed through the SEC website. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Lucid Diagnostics

Several institutional investors have recently modified their holdings of the business. Ghisallo Capital Management LLC purchased a new stake in shares of Lucid Diagnostics during the 3rd quarter valued at $2,990,000. Aberdeen Group plc raised its stake in shares of Lucid Diagnostics by 38.3% during the 4th quarter. Aberdeen Group plc now owns 3,457,894 shares of the company’s stock worth $3,769,000 after purchasing an additional 957,894 shares during the period. Sprott Inc. purchased a new position in shares of Lucid Diagnostics in the 3rd quarter worth about $25,000. Invesco Ltd. purchased a new position in shares of Lucid Diagnostics in the 2nd quarter worth about $41,000. Finally, Bank of America Corp DE grew its position in Lucid Diagnostics by 41.5% during the third quarter. Bank of America Corp DE now owns 40,663 shares of the company’s stock valued at $41,000 after buying an additional 11,917 shares during the period. 74.01% of the stock is owned by institutional investors.

Lucid Diagnostics Trading Down 6.0%

Lucid Diagnostics stock opened at $0.97 on Thursday. The firm has a market capitalization of $196.53 million, a price-to-earnings ratio of -2.06 and a beta of 1.07. The firm’s fifty day moving average price is $1.03 and its two-hundred day moving average price is $1.16. Lucid Diagnostics has a 1-year low of $0.90 and a 1-year high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Wednesday, May 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $1.26 million for the quarter, compared to the consensus estimate of $1.38 million. On average, research analysts forecast that Lucid Diagnostics will post -0.23 EPS for the current year.

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.