Lucid Diagnostics Inc. (NASDAQ: LUCD) received a consensus rating of “Moderate Buy” from five research firms monitoring the stock. According to data from Marketbeat, one analyst assigned a sell rating, while four analysts recommended buying shares of the company. The average twelve-month price target set by brokers covering Lucid Diagnostics is approximately $3.94.
Recent reports from analysts have varied in their evaluations of Lucid Diagnostics. On December 29, 2023, Weiss Ratings reaffirmed a “sell (d-)” rating on the stock. Meanwhile, Wall Street Zen downgraded its assessment from “hold” to “sell” on November 15, 2023. In contrast, Ascendiant Capital Markets increased its price target from $8.00 to $8.25 and maintained a “buy” rating in a report issued on December 10, 2023. Additionally, Needham & Company LLC reaffirmed a “buy” rating and set a price target of $3.00 on November 13, 2023.
Recent Financial Performance
Lucid Diagnostics reported its latest earnings results on November 12, 2023. The company disclosed an earnings per share (EPS) of ($0.10), falling short of the consensus estimate of ($0.06) by $0.04. Revenue for the quarter reached $1.21 million, which did not meet analysts’ expectations of $1.35 million. Looking ahead, research analysts predict that Lucid Diagnostics will report an EPS of ($0.84) for the current fiscal year.
Institutional Investments in Lucid Diagnostics
Recent fluctuations in institutional investment have also drawn attention. Bank of America Corp DE increased its holdings in Lucid Diagnostics by 41.5% during the third quarter, acquiring an additional 11,917 shares to bring its total to 40,663 shares, valued at around $41,000. Similarly, Goldman Sachs Group Inc. raised its stake by 35.7% in the first quarter, now holding 86,302 shares worth approximately $129,000 after purchasing an additional 22,727 shares.
Other institutional investors have also shown interest in Lucid Diagnostics. Quadrature Capital Ltd made a new investment during the second quarter valued at about $29,000, while Centiva Capital LP and Sprott Inc. each acquired new positions during the third quarter, both worth approximately $25,000. Currently, institutional investors and hedge funds own 74.01% of Lucid Diagnostics stock.
Lucid Diagnostics is a molecular diagnostics company dedicated to enhancing early detection of oral and oropharyngeal cancers. Its flagship product, the LucidDx Oral Cytology Brush Test, employs a minimally invasive brush biopsy tool along with proprietary laboratory analysis to identify cellular abnormalities that may indicate malignancy. Samples collected from dental and medical offices are processed in Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows produce diagnostic reports for healthcare providers and patients.
As Lucid Diagnostics continues to navigate its business landscape, analysts and investors remain attentive to its performance and potential for growth in the diagnostics sector.
