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

Lucid Diagnostics (NASDAQ:LUCD) had its target price boosted by investment analysts at Ascendiant Capital Markets from $9.00 to $9.25 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other brokerages have also commented on LUCD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Lucid Diagnostics in a report on Thursday, March 26th. Wall Street Zen lowered shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Maxim Group dropped their target price on shares of Lucid Diagnostics from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, BTIG Research restated a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a research report on Friday, May 15th. 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 a consensus rating of “Moderate Buy” and an average target price of $4.19.

Lucid Diagnostics Stock Performance

Shares of LUCD stock opened at $0.97 on Monday. The company’s fifty day simple moving average is $1.10 and its 200-day simple moving average is $1.17. Lucid Diagnostics has a 52 week low of $0.90 and a 52 week high of $1.63. The company has a market cap of $196.41 million, a PE ratio of -2.06 and a beta of 1.08.

Lucid Diagnostics (NASDAQ:LUCD) last issued its earnings results on Thursday, May 14th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $1.26 million for the quarter, compared to analyst estimates of $1.38 million. Equities research analysts expect that Lucid Diagnostics will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Lucid Diagnostics

In related news, Director Dennis Matheis purchased 245,000 shares of Lucid Diagnostics stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $1.00 per share, with a total value of $245,000.00. Following the purchase, the director owned 1,033,443 shares in the company, valued at approximately $1,033,443. The trade was a 31.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Lucid Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sprott Inc. acquired a new stake in shares of Lucid Diagnostics during the third quarter valued at approximately $25,000. Centiva Capital LP acquired a new stake in shares of Lucid Diagnostics during the third quarter valued at approximately $25,000. Abel Hall LLC acquired a new stake in shares of Lucid Diagnostics during the fourth quarter valued at approximately $33,000. JPMorgan Chase & Co. increased its stake in Lucid Diagnostics by 71,026.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company’s stock valued at $38,000 after buying an additional 32,672 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Lucid Diagnostics in the 1st quarter valued at approximately $39,000. 74.01% of the stock is owned by institutional investors and hedge funds.

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.