Lucid Diagnostics’ (LUCD) “Buy” Rating Reaffirmed at Needham & Company LLC

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $3.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 154.24% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Ascendiant Capital Markets upped their price objective on shares of Lucid Diagnostics from $8.00 to $8.25 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Wall Street Zen cut shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Lucid Diagnostics currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.94.

Lucid Diagnostics Stock Down 0.8%

Shares of LUCD stock traded down $0.01 during trading hours on Thursday, hitting $1.18. 244,160 shares of the company’s stock were exchanged, compared to its average volume of 1,332,711. The firm has a 50 day moving average of $1.30 and a two-hundred day moving average of $1.18. Lucid Diagnostics has a fifty-two week low of $0.95 and a fifty-two week high of $1.80. The firm has a market cap of $162.46 million, a P/E ratio of -1.13 and a beta of 1.18.

Institutional Investors Weigh In On Lucid Diagnostics

Hedge funds have recently modified their holdings of the business. Perkins Capital Management Inc. acquired a new position in Lucid Diagnostics during the third quarter worth about $1,138,000. Ghisallo Capital Management LLC acquired a new stake in Lucid Diagnostics in the 3rd quarter valued at about $2,990,000. Aberdeen Group plc purchased a new position in Lucid Diagnostics in the 3rd quarter worth approximately $2,525,000. Luminus Management LLC lifted its stake in Lucid Diagnostics by 14.8% in the 3rd quarter. Luminus Management LLC now owns 912,805 shares of the company’s stock worth $922,000 after purchasing an additional 117,975 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Lucid Diagnostics during the 2nd quarter worth approximately $42,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

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.