Ghisallo Capital Management LLC Makes New Investment 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 stake in Lucid Diagnostics Inc. (NASDAQ:LUCD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 422,004 shares of the company's stock, valued at approximately $629,000. Ghisallo Capital Management LLC owned 0.40% of Lucid Diagnostics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Asset Management LLC PA acquired a new stake in Lucid Diagnostics during the first quarter worth $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Lucid Diagnostics during the first quarter worth $37,000. Sunbelt Securities Inc. acquired a new stake in Lucid Diagnostics during the fourth quarter worth $67,000. Citadel Advisors LLC acquired a new stake in Lucid Diagnostics during the fourth quarter worth $98,000. Finally, 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 worth $115,000 after buying an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 74.01% of the company's stock.

Analyst Upgrades and Downgrades

LUCD has been the subject of a number of analyst reports. Wall Street Zen raised Lucid Diagnostics from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Needham & Company LLC reissued a "buy" rating and set a $3.00 price objective on shares of Lucid Diagnostics in a report on Wednesday, August 13th. BTIG Research lifted their price objective on Lucid Diagnostics from $2.00 to $2.50 and gave the company a "buy" rating in a report on Friday. Ascendiant Capital Markets raised their price target on Lucid Diagnostics from $7.50 to $7.75 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2.00 price target on shares of Lucid Diagnostics in a report on Thursday, May 15th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Lucid Diagnostics currently has an average rating of "Buy" and a consensus price target of $3.65.

Insider Transactions at Lucid Diagnostics

In other Lucid Diagnostics news, Director Dennis Matheis purchased 100,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $1.02 per share, with a total value of $102,000.00. Following the acquisition, the director directly owned 665,443 shares of the company's stock, valued at $678,751.86. This trade represents a 17.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.80% of the stock is owned by corporate insiders.

Lucid Diagnostics Price Performance

NASDAQ LUCD traded up $0.06 on Friday, hitting $1.44. 1,962,351 shares of the stock were exchanged, compared to its average volume of 996,903. The business's fifty day moving average is $1.10 and its 200 day moving average is $1.26. Lucid Diagnostics Inc. has a 52 week low of $0.73 and a 52 week high of $1.80. The company has a market capitalization of $155.67 million, a PE ratio of -1.21 and a beta of 1.24.

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.