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

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

Lucid Diagnostics Price Performance

LUCD stock traded up $0.02 during mid-day trading on Wednesday, reaching $0.98. The company had a trading volume of 1,082,848 shares, compared to its average volume of 1,271,645. The company has a market capitalization of $199.90 million, a price-to-earnings ratio of -2.09 and a beta of 1.08. Lucid Diagnostics has a 52 week low of $0.86 and a 52 week high of $1.63. The stock has a 50 day simple moving average of $0.99 and a two-hundred day simple moving average of $1.13.

Insider Activity

In other news, Director Dennis Matheis bought 245,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $1.00 per share, with a total value of $245,000.00. Following the acquisition, the director owned 1,033,443 shares in the company, valued at $1,033,443. This trade represents a 31.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Lucid Diagnostics

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new stake in shares of Lucid Diagnostics during the fourth quarter worth approximately $168,000. Barclays PLC increased its position in shares of 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. raised its position in shares of Lucid Diagnostics by 28.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 224,921 shares of the company’s stock valued at $245,000 after buying an additional 50,053 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Lucid Diagnostics in the 4th quarter valued at $88,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Lucid Diagnostics in the second quarter valued at about $43,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LUCD. Ascendiant Capital Markets upped their price target on Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a research report on Monday, June 8th. BTIG Research reiterated a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a report on Friday, May 15th. Weiss Ratings raised shares of Lucid Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Wall Street Zen cut Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Maxim Group decreased their target price on Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating for the company in a research note 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’s stock. According to data from MarketBeat, the company presently has an average 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.