Lucid Diagnostics (NASDAQ:LUCD) Earns “Buy” Rating from Needham & Company LLC

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $3.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 159.74% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $2.00 target price on shares of Lucid Diagnostics in a research note on Thursday, May 15th. Ascendiant Capital Markets raised their target price on Lucid Diagnostics from $7.50 to $7.75 and gave the company a “buy” rating in a research note on Friday, June 6th. BTIG Research set a $2.00 target price on Lucid Diagnostics in a research note on Tuesday, March 25th. Finally, Wall Street Zen cut Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $3.55.

Lucid Diagnostics Stock Performance

Shares of LUCD traded up $0.02 on Wednesday, reaching $1.16. The stock had a trading volume of 90,831 shares, compared to its average volume of 704,148. The firm has a market capitalization of $124.96 million, a price-to-earnings ratio of -0.86 and a beta of 1.23. The company has a 50-day simple moving average of $1.24 and a 200-day simple moving average of $1.23. Lucid Diagnostics has a 12-month low of $0.72 and a 12-month high of $1.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC purchased a new position in Lucid Diagnostics during the second quarter valued at $46,000. Goldman Sachs Group Inc. increased its holdings in shares of Lucid Diagnostics by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock worth $129,000 after purchasing an additional 22,727 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Lucid Diagnostics in the 1st quarter worth $2,813,000. Cubist Systematic Strategies LLC bought a new stake in shares of Lucid Diagnostics in the 1st quarter worth $39,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Lucid Diagnostics in the 1st quarter worth $629,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

About Lucid Diagnostics

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.