Lucid Diagnostics (NASDAQ:LUCD) Price Target Raised to $9.25 at Ascendiant Capital Markets

Lucid Diagnostics (NASDAQ:LUCD) had its price target hoisted by equities research analysts at Ascendiant Capital Markets from $9.00 to $9.25 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other analysts also recently issued reports about the stock. BTIG Research reaffirmed a “buy” rating and set a $2.50 price objective on shares of Lucid Diagnostics in a report on Friday, May 15th. Maxim Group decreased their price objective on shares of Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a report on Thursday, March 26th. Finally, Wall Street Zen downgraded shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.19.

Lucid Diagnostics Price Performance

Shares of LUCD opened at $0.97 on Monday. The company’s fifty day moving average is $1.10 and its 200-day moving average is $1.17. Lucid Diagnostics has a 12 month low of $0.90 and a 12 month high of $1.63. The firm has a market cap of $196.41 million, a price-to-earnings ratio of -2.06 and a beta of 1.08.

Lucid Diagnostics (NASDAQ:LUCD) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $1.26 million for the quarter, compared to the consensus estimate of $1.38 million. As a group, research analysts predict that Lucid Diagnostics will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dennis Matheis purchased 245,000 shares of Lucid Diagnostics stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $1.00 per share, with a total value of $245,000.00. Following the acquisition, the director directly owned 1,033,443 shares in the company, valued at approximately $1,033,443. This trade represents a 31.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Lucid Diagnostics

A number of hedge funds have recently bought and sold shares of the stock. Two Seas Capital LP acquired a new stake in shares of Lucid Diagnostics during the 3rd quarter worth approximately $3,030,000. Ghisallo Capital Management LLC acquired a new stake in shares of Lucid Diagnostics during the 3rd quarter worth approximately $2,990,000. Aberdeen Group plc acquired a new stake in shares of Lucid Diagnostics during the 3rd quarter worth approximately $2,525,000. Geode Capital Management LLC grew its position 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 buying an additional 1,274,194 shares during the period. Finally, Masters Capital Management LLC grew its position in shares of Lucid Diagnostics by 46.6% during the 3rd quarter. Masters Capital Management LLC now owns 3,999,273 shares of the company’s stock worth $4,039,000 after buying an additional 1,272,000 shares during the period. 74.01% of the stock is owned by institutional investors.

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.