Lucid Diagnostics (NASDAQ:LUCD) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Lucid Diagnostics (NASDAQ:LUCD) from a hold rating to a sell rating in a research note published on Saturday.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Monday, December 29th. Ascendiant Capital Markets increased their price target on shares of Lucid Diagnostics from $8.00 to $8.25 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.94.

Lucid Diagnostics Stock Performance

Shares of NASDAQ:LUCD opened at $1.37 on Friday. The stock’s 50-day simple moving average is $1.28 and its two-hundred day simple moving average is $1.18. The stock has a market capitalization of $188.62 million, a price-to-earnings ratio of -1.32 and a beta of 1.18. Lucid Diagnostics has a 52-week low of $0.95 and a 52-week high of $1.80.

Institutional Investors Weigh In On Lucid Diagnostics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Lucid Diagnostics during the second quarter valued at approximately $29,000. Centiva Capital LP bought a new position in shares of Lucid Diagnostics in the third quarter worth approximately $25,000. Sprott Inc. purchased a new stake in shares of Lucid Diagnostics in the third quarter worth $25,000. Cubist Systematic Strategies LLC bought a new stake in shares of Lucid Diagnostics during the 1st quarter valued at $39,000. Finally, SG Americas Securities LLC bought a new stake in shares of Lucid Diagnostics during the 3rd quarter valued at $26,000. 74.01% of the stock is owned by hedge funds and other 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.