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NEW YORK - Lucid Diagnostics Inc. (NASDAQ:LUCD), a subsidiary of PAVmed Inc. (NASDAQ:PAVM), is set to be included in the Russell 2000 and Russell 3000 Indexes after U.S. markets close on June 27, 2025. This announcement follows the preliminary list of additions published by FTSE Russell on May 23, 2025. The company’s stock has shown remarkable momentum, with a 94% return year-to-date and a recent surge of 22% in the past week, according to InvestingPro data.
The inclusion in these indexes marks a significant milestone for Lucid Diagnostics, reflecting the company’s growth and increased market capitalization, which currently stands at $172 million. The Russell 3000 Index represents the 3,000 largest U.S. public companies, and the Russell 2000 is a subset focused on small-cap firms. Membership in these indexes is determined annually based on market cap rankings as of April 30 and is maintained for one year. InvestingPro analysis indicates the company is currently trading above its Fair Value, with 12 additional key insights available to subscribers.
Dennis McGrath, Lucid’s CFO, expressed confidence that this development would raise the company’s profile among institutional investors. The Russell indexes are key benchmarks for investment strategies and underpin many index-linked financial products. FTSE Russell reports that around $10.6 trillion in assets are benchmarked against their U.S. indexes. However, investors should note that the company faces financial challenges, with InvestingPro data showing negative EBITDA of -$46.86 million and a current ratio of 0.75, indicating potential liquidity concerns.
Lucid Diagnostics specializes in cancer prevention medical diagnostics, targeting patients with gastroesophageal reflux disease (GERD) at risk of esophageal precancer and cancer. Their EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device are the only commercially available tools designed for early detection of esophageal precancer. The company has achieved 40% revenue growth over the last twelve months, though it operates with negative gross profit margins of -67.6%.
The company’s forward-looking statements caution investors about potential risks and uncertainties that could affect future results, including market conditions, research and development challenges, regulatory approval processes, market acceptance, funding needs, competitive developments, and the ongoing impact of the COVID-19 pandemic. For a comprehensive analysis of Lucid Diagnostics’ financial health, growth prospects, and valuation metrics, access the detailed Pro Research Report available exclusively on InvestingPro.
This news is based on a press release statement from Lucid Diagnostics and does not constitute an endorsement of the company or its products.
In other recent news, Lucid Diagnostics reported its first-quarter 2025 earnings with revenue amounting to $800,000, which was below the expectations set by Cantor Fitzgerald and the FactSet consensus. The company conducted 3,034 EsoGuard tests, marking a 25% increase compared to the same period last year. Despite the revenue shortfall, Lucid Diagnostics is optimistic about the potential Medicare Coverage for its EsoGuard product, which could significantly impact future revenue. The company also secured its first positive policy coverage from Highmark Blue Cross Blue Shield, further supporting its market expansion efforts.
Cantor Fitzgerald maintained its Overweight rating on Lucid Diagnostics, setting a price target of $2.00, indicating confidence in the company’s unique test offerings and potential for future growth. Additionally, Lucid Diagnostics has increased its cash reserves to $41 million following an April offering, bolstering its financial position to support ongoing strategic initiatives. The company’s strategic focus remains on expanding its market presence through partnerships and innovative campaigns, with a keen eye on potential growth in the esophageal precancer detection market.
Lucid Diagnostics is also awaiting a local coverage decision that could secure Medicare Coverage for its EsoGuard test, which is seen as a critical catalyst for shifting the company’s focus from volume growth to revenue generation. The firm’s strategic initiatives include targeting a $60 billion market, with potential expansion upon confirmation from an NIH study. Despite challenges in reimbursement with major insurers, Lucid Diagnostics is navigating the competitive landscape with a focus on long-term success.
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