Ghisallo Capital Management LLC Invests $629,000 in Lucid Diagnostics Inc. $LUCD

Key Points

• Ghisallo Capital Management LLC has acquired a new stake in Lucid Diagnostics, purchasing 422,004 shares valued at approximately $629,000, amounting to about 0.40% of the company.
• Several hedge funds are adjusting their positions, with Citadel Advisors and Geode Capital Management both increasing their stakes in Lucid Diagnostics during the fourth quarter.
• Lucid Diagnostics is currently rated as a "Buy" by multiple analysts, with a consensus price target of $3.55, reflecting confidence in the company's potential growth.

Ghisallo Capital Management LLC bought a new position in Lucid Diagnostics Inc. (NASDAQ:LUCD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 422,004 shares of the company's stock, valued at approximately $629,000. Ghisallo Capital Management LLC owned 0.40% of Lucid Diagnostics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in shares of Lucid Diagnostics in the fourth quarter worth $98,000. Geode Capital Management LLC increased its stake 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 worth $229,000 after buying an additional 65,964 shares during the period. XML Financial LLC purchased a new position in shares of Lucid Diagnostics in the first quarter worth $266,000. Lido Advisors LLC increased its stake in shares of Lucid Diagnostics by 40.0% in the fourth quarter. Lido Advisors LLC now owns 140,016 shares of the company's stock worth $115,000 after buying an additional 40,000 shares during the period. Finally, Berkshire Asset Management LLC PA purchased a new position in shares of Lucid Diagnostics in the first quarter worth $30,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LUCD has been the topic of a number of research analyst reports. Ascendiant Capital Markets boosted their price objective on shares of Lucid Diagnostics from $7.50 to $7.75 and gave the company a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $2.00 price objective on shares of Lucid Diagnostics in a research report on Thursday, May 15th. Wall Street Zen raised shares of Lucid Diagnostics from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Needham & Company LLC reissued a "buy" rating and set a $3.00 price objective on shares of Lucid Diagnostics in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $3.55.

Insider Transactions at Lucid Diagnostics

In other news, Director Dennis Matheis purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average price of $1.02 per share, for a total transaction of $102,000.00. Following the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by insiders.

Lucid Diagnostics Stock Up 11.3%

Shares of LUCD stock traded up $0.14 during mid-day trading on Thursday, reaching $1.38. 1,830,550 shares of the company's stock traded hands, compared to its average volume of 988,992. Lucid Diagnostics Inc. has a 12 month low of $0.73 and a 12 month high of $1.80. The company has a market cap of $149.70 million, a P/E ratio of -1.16 and a beta of 1.24. The company's 50-day moving average price is $1.10 and its 200-day moving average price is $1.26.

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.