Alyeska Investment Group L.P. Makes New $2.81 Million Investment in Lucid Diagnostics Inc. $LUCD

Key Points

• Alyeska Investment Group L.P. has invested approximately $2.81 million in Lucid Diagnostics Inc., acquiring 1,887,843 shares to own around 1.79% of the company.
• Multiple institutional investors added to their positions in Lucid Diagnostics, with a total of 74.01% of the stock held by institutional investors and hedge funds.
• Equities analysts have given Lucid Diagnostics' stock an average rating of "Buy" with a consensus price target of $3.65, indicating strong growth potential.

Alyeska Investment Group L.P. bought a new position in Lucid Diagnostics Inc. (NASDAQ:LUCD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,887,843 shares of the company's stock, valued at approximately $2,813,000. Alyeska Investment Group L.P. owned 1.79% of Lucid Diagnostics at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LUCD. Berkshire Asset Management LLC PA bought a new position in shares of Lucid Diagnostics during the first quarter worth about $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Lucid Diagnostics in the first quarter valued at approximately $37,000. Cubist Systematic Strategies LLC bought a new stake in shares of Lucid Diagnostics in the first quarter worth $39,000. Sunbelt Securities Inc. bought a new position in Lucid Diagnostics in the fourth quarter valued at $67,000. Finally, Citadel Advisors LLC acquired a new stake in Lucid Diagnostics in the 4th quarter valued at $98,000. 74.01% of the stock is currently owned by institutional investors.

Lucid Diagnostics Stock Up 4.9%

Shares of LUCD stock traded up $0.05 during trading on Thursday, reaching $1.07. 2,418,719 shares of the company's stock were exchanged, compared to its average volume of 1,415,011. Lucid Diagnostics Inc. has a twelve month low of $0.73 and a twelve month high of $1.80. The firm's fifty day moving average price is $1.11 and its 200-day moving average price is $1.25. The stock has a market capitalization of $116.07 million, a PE ratio of -0.90 and a beta of 1.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LUCD shares. BTIG Research increased their price objective on shares of Lucid Diagnostics from $2.00 to $2.50 and gave the stock a "buy" rating in a research note on Friday, September 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $3.00 price target on shares of Lucid Diagnostics in a research report on Wednesday, August 13th. Wall Street Zen raised Lucid Diagnostics from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Ascendiant Capital Markets upped their price target on shares of Lucid Diagnostics from $7.50 to $7.75 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $2.00 price target on shares of Lucid Diagnostics in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $3.65.

Insider Activity at Lucid Diagnostics

In related news, Director Dennis Matheis acquired 100,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $1.02 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director directly owned 665,443 shares in the company, valued at approximately $678,751.86. This trade represents a 17.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Lucid Diagnostics 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.