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

Lucid Diagnostics Inc. (NASDAQ:LUCD) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.19.

LUCD has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating on shares of Lucid Diagnostics in a research report on Thursday, October 1st. BTIG Research reiterated a “buy” rating on shares of Lucid Diagnostics in a research report on Friday, October 23rd. Finally, Weiss Ratings downgraded Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th.

Lucid Diagnostics Trading Down 4.2%

Shares of NASDAQ:LUCD opened at $0.40 on Wednesday. The company has a 50 day moving average of $0.63 and a 200 day moving average of $1.00. The stock has a market cap of $81.30 million, a P/E ratio of -0.85 and a beta of 1.19. Lucid Diagnostics has a 12 month low of $0.30 and a 12 month high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.43 million. On average, equities analysts forecast that Lucid Diagnostics will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lucid Diagnostics

A number of institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. purchased a new stake in shares of Lucid Diagnostics in the 2nd quarter valued at about $9,477,000. BlackRock Inc. purchased a new position in shares of Lucid Diagnostics during the second quarter worth about $8,959,000. Two Seas Capital LP purchased a new position in shares of Lucid Diagnostics during the second quarter worth about $6,420,000. Sunbelt Securities Inc. grew its holdings in shares of Lucid Diagnostics by 134.4% during the first quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company’s stock worth $1,035,000 after purchasing an additional 516,014 shares in the last quarter. Finally, XML Financial LLC increased 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 worth $346,000 after purchasing an additional 100,000 shares during the last quarter. 74.01% of the stock is currently owned by institutional investors.

About Lucid Diagnostics

Lucid Diagnostics Inc. (NASDAQ: LUCD) is a medical diagnostics company focused on improving the detection of esophageal disease. The company develops and commercializes diagnostic technologies intended to identify patients at elevated risk of esophageal cancer, particularly those with gastroesophageal reflux disease (GERD). Lucid’s principal products include EsoGuard, a laboratory-developed DNA test that analyzes cells collected from the esophagus for molecular changes associated with Barrett’s esophagus and esophageal cancer risk, and EsoCheck, a swallowable, balloon-based device designed to collect cells from the esophageal lining.