Zacks Investment Research Downgrades Lucid Diagnostics (NASDAQ:LUCD) to Sell

Lucid Diagnostics (NASDAQ:LUCDGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. Lucid Diagnostics Inc. is based in NEW YORK. “

LUCD has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Lucid Diagnostics in a research report on Friday, February 4th. Needham & Company LLC decreased their target price on Lucid Diagnostics from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, March 29th. BTIG Research reiterated a “buy” rating and set a $5.00 target price on shares of Lucid Diagnostics in a research report on Friday, May 13th. Canaccord Genuity Group decreased their target price on Lucid Diagnostics from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 29th. Finally, Canaccord Genuity Group decreased their price objective on Lucid Diagnostics from $12.00 to $8.00 in a report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $12.43.

Shares of LUCD opened at $2.15 on Thursday. The business has a fifty day moving average of $2.53 and a 200 day moving average of $4.31. Lucid Diagnostics has a 52-week low of $1.79 and a 52-week high of $13.52.

Lucid Diagnostics (NASDAQ:LUCDGet Rating) last issued its quarterly earnings results on Monday, March 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). On average, sell-side analysts anticipate that Lucid Diagnostics will post -1.42 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Lucid Diagnostics by 25.6% during the first quarter. Vanguard Group Inc. now owns 312,876 shares of the company’s stock worth $1,051,000 after acquiring an additional 63,687 shares during the last quarter. Covalis Capital LLP purchased a new stake in shares of Lucid Diagnostics during the fourth quarter worth about $722,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Lucid Diagnostics during the fourth quarter worth about $714,000. BlackRock Inc. grew its stake in shares of Lucid Diagnostics by 18.7% during the first quarter. BlackRock Inc. now owns 67,565 shares of the company’s stock worth $227,000 after acquiring an additional 10,636 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Lucid Diagnostics during the fourth quarter worth about $351,000. Institutional investors own 8.84% of the company’s stock.

About Lucid Diagnostics (Get Rating)

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company. The company focuses on patients with gastroesophageal reflux disease, also known as chronic heartburn, acid reflux or simply reflux, who are at risk of developing esophageal precancer and cancer, specifically highly lethal esophageal adenocarcinoma.

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