Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Decreases By 31.8%

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its position in Lucid Diagnostics by 29.1% during the fourth quarter. LPL Financial LLC now owns 53,391 shares of the company’s stock valued at $44,000 after purchasing an additional 12,035 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Lucid Diagnostics during the 4th quarter worth about $67,000. Citadel Advisors LLC purchased a new stake in shares of Lucid Diagnostics during the 4th quarter worth about $98,000. Lido Advisors LLC lifted its holdings in shares of Lucid Diagnostics by 40.0% during the 4th 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 during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Lucid Diagnostics by 30.9% in the 4th 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 in the last quarter. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Diagnostics Price Performance

LUCD traded down $0.01 on Friday, reaching $1.58. 701,358 shares of the company traded hands, compared to its average volume of 362,517. Lucid Diagnostics has a 52-week low of $0.63 and a 52-week high of $1.63. The company has a market cap of $93.76 million, a price-to-earnings ratio of -1.39 and a beta of 1.34. The stock’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.01.

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.