Lucid Diagnostics (NASDAQ:LUCD) Earns “Buy” Rating from Canaccord Genuity Group

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a report issued on Thursday,Benzinga reports. They currently have a $3.00 price objective on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 198.51% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Canaccord Genuity Group upgraded Lucid Diagnostics to a “strong-buy” rating in a research report on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research note on Thursday. Finally, Ascendiant Capital Markets decreased their target price on shares of Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lucid Diagnostics currently has a consensus rating of “Buy” and an average price target of $3.94.

Lucid Diagnostics Price Performance

Shares of Lucid Diagnostics stock traded down $0.05 during midday trading on Thursday, hitting $1.01. The company had a trading volume of 103,187 shares, compared to its average volume of 192,315. Lucid Diagnostics has a 1-year low of $0.63 and a 1-year high of $1.58. The business’s 50 day simple moving average is $0.86 and its two-hundred day simple moving average is $0.85. The stock has a market cap of $54.26 million, a PE ratio of -0.82 and a beta of 1.41.

Lucid Diagnostics (NASDAQ:LUCD) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $0.98 million for the quarter. On average, sell-side analysts expect that Lucid Diagnostics will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Lucid Diagnostics

An institutional investor recently raised its position in Lucid Diagnostics stock. Virtu Financial LLC lifted its holdings in shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 34,671 shares of the company’s stock after purchasing an additional 13,835 shares during the period. Virtu Financial LLC owned 0.07% of Lucid Diagnostics worth $28,000 at the end of the most recent reporting period. 74.01% of the stock is owned by hedge funds and other institutional investors.

Lucid Diagnostics Company Profile

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.