Lucid Diagnostics Inc. (NASDAQ:LUCD) Stock Has Average Target Price of $4.19

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) have been given an average rating of “Moderate Buy” by the five brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $4.19.

A number of brokerages have weighed in on LUCD. Wall Street Zen lowered Lucid Diagnostics from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings cut Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 18th. Needham & Company LLC reissued a “buy” rating on shares of Lucid Diagnostics in a research report on Thursday, October 1st. Finally, BTIG Research restated a “buy” rating and set a $2.50 price target on shares of Lucid Diagnostics in a research note on Monday, August 17th.

Lucid Diagnostics Stock Down 8.1%

NASDAQ:LUCD traded down $0.04 during mid-day trading on Friday, hitting $0.48. 2,334,978 shares of the company traded hands, compared to its average volume of 1,899,210. The stock’s fifty day moving average price is $0.83 and its 200-day moving average price is $0.97. Lucid Diagnostics has a one year low of $0.47 and a one year high of $1.63. The firm has a market cap of $97.15 million, a price-to-earnings ratio of -1.02 and a beta of 1.12.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $1.47 million for the quarter, compared to analysts’ expectations of $1.43 million. Equities analysts predict that Lucid Diagnostics will post -0.23 EPS for the current year.

Institutional Trading of Lucid Diagnostics

A number of hedge funds have recently added to or reduced their stakes in LUCD. Sequoia Financial Advisors LLC acquired a new position in Lucid Diagnostics during the second quarter worth $99,000. XML Financial LLC grew its position in shares of Lucid Diagnostics by 44.8% in the second quarter. XML Financial LLC now owns 323,195 shares of the company’s stock valued at $346,000 after purchasing an additional 100,000 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Lucid Diagnostics during the second quarter worth about $43,000. Alyeska Investment Group L.P. purchased a new stake in shares of Lucid Diagnostics during the second quarter worth about $9,477,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Lucid Diagnostics during the second quarter worth about $139,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

About Lucid Diagnostics

Lucid Diagnostics Inc is a commercial-stage medical diagnostics company focused on detecting esophageal precancer and cancer at an earlier, more treatable stage. The company is a subsidiary of PAVmed Inc and develops diagnostic products intended to help identify patients at risk for esophageal adenocarcinoma, a cancer associated with Barrett’s esophagus and chronic gastroesophageal reflux disease.

Lucid’s primary products are EsoGuard, a laboratory-developed DNA test, and EsoCheck, a noninvasive, swallowable balloon device used to collect cells from the esophagus.