Needham & Company LLC Reiterates Buy Rating for Lucid Diagnostics (NASDAQ:LUCD)

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $3.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 154.24% from the company’s previous close.

LUCD has been the subject of a number of other research reports. Ascendiant Capital Markets lifted their target price on Lucid Diagnostics from $8.00 to $8.25 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.94.

Lucid Diagnostics Trading Down 0.8%

Shares of NASDAQ:LUCD traded down $0.01 on Thursday, hitting $1.18. 244,160 shares of the company were exchanged, compared to its average volume of 1,332,711. The firm has a market capitalization of $162.46 million, a P/E ratio of -1.13 and a beta of 1.18. The stock’s 50 day moving average price is $1.30 and its 200 day moving average price is $1.18. Lucid Diagnostics has a 1-year low of $0.95 and a 1-year high of $1.80.

Institutional Trading of Lucid Diagnostics

Several hedge funds and other institutional investors have recently bought and sold shares of LUCD. Cubist Systematic Strategies LLC purchased a new position in Lucid Diagnostics during the first quarter valued at approximately $39,000. Goldman Sachs Group Inc. boosted its position in Lucid Diagnostics by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock worth $129,000 after purchasing an additional 22,727 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Lucid Diagnostics by 420.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company’s stock worth $1,814,000 after purchasing an additional 1,274,194 shares during the period. Intech Investment Management LLC purchased a new position in shares of Lucid Diagnostics during the 2nd quarter valued at approximately $42,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Lucid Diagnostics by 71,026.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company’s stock valued at $38,000 after purchasing an additional 32,672 shares in the last quarter. 74.01% of the stock is owned by institutional investors and hedge funds.

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.