Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Update

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,220,000 shares, a drop of 31.8% from the February 28th total of 1,790,000 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average trading volume of 601,900 shares, the short-interest ratio is presently 2.0 days.

Analysts Set New Price Targets

LUCD has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2.00 price target on shares of Lucid Diagnostics in a report on Wednesday. BTIG Research set a $2.00 target price on shares of Lucid Diagnostics in a research note on Tuesday. Needham & Company LLC lifted their price target on Lucid Diagnostics from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. Finally, Ascendiant Capital Markets lowered their price target on shares of Lucid Diagnostics from $7.25 to $7.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $3.40.

Lucid Diagnostics Price Performance

Shares of LUCD traded down $0.01 during trading hours on Friday, reaching $1.58. 701,358 shares of the company’s stock traded hands, compared to its average volume of 362,517. Lucid Diagnostics has a twelve month low of $0.63 and a twelve month high of $1.63. The business’s fifty day simple moving average is $1.27 and its two-hundred day simple moving average is $1.01. The firm has a market capitalization of $93.76 million, a price-to-earnings ratio of -1.39 and a beta of 1.34.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sargent Investment Group LLC bought a new position in Lucid Diagnostics during the 4th quarter valued at $442,000. Geode Capital Management LLC lifted its holdings in shares of Lucid Diagnostics by 30.9% in the fourth quarter. Geode Capital Management LLC now owns 279,504 shares of the company’s stock valued at $229,000 after buying an additional 65,964 shares during the period. Lido Advisors LLC boosted its stake in Lucid Diagnostics by 40.0% during the fourth quarter. Lido Advisors LLC now owns 140,016 shares of the company’s stock valued at $115,000 after buying an additional 40,000 shares in the last quarter. Citadel Advisors LLC acquired a new position in Lucid Diagnostics during the fourth quarter worth about $98,000. Finally, Sunbelt Securities Inc. bought a new stake in Lucid Diagnostics in the fourth quarter worth about $67,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

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.