Lucid Diagnostics (NASDAQ:LUCD) Given Buy Rating at BTIG Research

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a research report issued on Monday,Benzinga reports. They currently have a $2.50 target price on the stock. BTIG Research’s price target would suggest a potential upside of 158.34% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Ascendiant Capital Markets raised their target price on shares of Lucid Diagnostics from $9.00 to $9.25 and gave the company a “buy” rating in a research note on Monday, June 8th. Maxim Group cut their price target on shares of Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Weiss Ratings raised shares of Lucid Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.19.

Lucid Diagnostics Stock Performance

LUCD opened at $0.97 on Monday. Lucid Diagnostics has a 52-week low of $0.86 and a 52-week high of $1.63. The firm has a market capitalization of $196.68 million, a PE ratio of -2.06 and a beta of 1.08. The business’s 50-day simple moving average is $0.99 and its 200 day simple moving average is $1.13.

Lucid Diagnostics (NASDAQ:LUCD) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter, meeting 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. On average, research analysts forecast that Lucid Diagnostics will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other Lucid Diagnostics news, Director Dennis Matheis purchased 245,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired 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. The trade was a 31.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Lucid Diagnostics

Large investors have recently modified their holdings of the stock. Centiva Capital LP bought a new position in Lucid Diagnostics in the 3rd quarter valued at about $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Lucid Diagnostics during the first quarter worth $39,000. Abel Hall LLC acquired a new position in shares of Lucid Diagnostics in the fourth quarter valued at about $33,000. JPMorgan Chase & Co. raised its stake 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 in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its position in shares of Lucid Diagnostics by 73.2% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 34,283 shares of the company’s stock worth $39,000 after purchasing an additional 14,487 shares in the last quarter. 74.01% of the stock is owned by institutional investors.

Lucid Diagnostics Company Profile

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.