Lucid Diagnostics’ (LUCD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lucid Diagnostics (NASDAQ:LUCD) in a report issued on Thursday,Benzinga reports. They currently have a $3.00 price target on the stock.

Several other brokerages have also recently commented on LUCD. Wall Street Zen upgraded shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 14th. BTIG Research lifted their price objective on shares of Lucid Diagnostics from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Friday, September 5th. Ascendiant Capital Markets upped their target price on Lucid Diagnostics from $7.75 to $8.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucid Diagnostics in a research note on Wednesday, November 5th. Four 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 company presently has an average rating of “Moderate Buy” and an average target price of $3.88.

Lucid Diagnostics Stock Performance

Lucid Diagnostics stock remained flat at $1.07 during mid-day trading on Thursday. The company’s stock had a trading volume of 674,272 shares, compared to its average volume of 1,045,390. The firm’s 50 day simple moving average is $1.13 and its two-hundred day simple moving average is $1.17. The company has a market cap of $142.82 million, a price-to-earnings ratio of -1.03 and a beta of 1.22. Lucid Diagnostics has a 12-month low of $0.75 and a 12-month high of $1.80.

Lucid Diagnostics (NASDAQ:LUCD) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $1.35 million. As a group, research analysts expect that Lucid Diagnostics will post -0.84 EPS for the current year.

Insider Buying and Selling at Lucid Diagnostics

In other news, Director Dennis Matheis acquired 100,000 shares of Lucid Diagnostics stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average price of $1.02 per share, for a total transaction of $102,000.00. Following the transaction, the director directly owned 665,443 shares of the company’s stock, valued at approximately $678,751.86. The trade was a 17.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Lucid Diagnostics

Several institutional investors have recently modified their holdings of LUCD. Berkshire Asset Management LLC PA acquired a new stake in Lucid Diagnostics in the first quarter valued at $30,000. Goldman Sachs Group Inc. increased its stake in shares of Lucid Diagnostics by 35.7% in the first quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock valued at $129,000 after buying an additional 22,727 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Lucid Diagnostics during the first quarter worth about $37,000. Quadrature Capital Ltd acquired a new position in shares of Lucid Diagnostics in the second quarter worth approximately $29,000. Finally, Sprott Inc. acquired a new stake in Lucid Diagnostics during the 3rd quarter valued at approximately $25,000. Institutional investors own 74.01% of the company’s stock.

About Lucid Diagnostics

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.