Ascendiant Capital Markets Issues Positive Forecast for Lucid Diagnostics (NASDAQ:LUCD) Stock Price

Lucid Diagnostics (NASDAQ:LUCD) had its price target hoisted by Ascendiant Capital Markets from $8.25 to $9.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on LUCD. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a report on Thursday, March 26th. Wall Street Zen upgraded Lucid Diagnostics from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Monday, December 29th. Finally, BTIG Research restated a “buy” rating and set a $2.50 price objective on shares of Lucid Diagnostics in a report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.13.

Lucid Diagnostics Stock Up 2.7%

LUCD opened at $1.15 on Thursday. The business has a fifty day moving average of $1.29 and a 200 day moving average of $1.18. The stock has a market cap of $203.49 million, a P/E ratio of -1.20 and a beta of 1.24. Lucid Diagnostics has a 52-week low of $0.95 and a 52-week high of $1.70.

Lucid Diagnostics (NASDAQ:LUCD) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $1.50 million during the quarter, compared to the consensus estimate of $1.39 million. Equities analysts anticipate that Lucid Diagnostics will post -0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Lucid Diagnostics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in Lucid Diagnostics during the 1st quarter worth about $39,000. Goldman Sachs Group Inc. increased its stake in shares of Lucid Diagnostics by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock valued at $129,000 after purchasing an additional 22,727 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lucid Diagnostics by 420.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company’s stock valued at $1,814,000 after purchasing an additional 1,274,194 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 32,672 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Lucid Diagnostics in the 2nd quarter valued at about $97,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Lucid Diagnostics Company Profile

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.