Lucid Diagnostics Inc. (NASDAQ:LUCD) Receives $3.55 Average Price Target from Analysts

Key Points

• Lucid Diagnostics Inc. (NASDAQ:LUCD) has received a consensus rating of "Buy" from five brokerages, with an average 12-month price target of $3.55.
• Several institutional investors have recently increased their stakes in Lucid Diagnostics, collectively owning 74.01% of the company’s stock.
• The stock has traded between a 1-year low of $0.72 and a 1-year high of $1.80, currently opening at $1.02.

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) have earned a consensus recommendation of "Buy" from the five research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $3.55.

LUCD has been the subject of a number of analyst reports. Needham & Company LLC restated a "buy" rating and set a $3.00 target price on shares of Lucid Diagnostics in a report on Wednesday, July 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $2.00 price objective on shares of Lucid Diagnostics in a research note on Thursday, May 15th. Wall Street Zen downgraded Lucid Diagnostics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Ascendiant Capital Markets lifted their price objective on shares of Lucid Diagnostics from $7.50 to $7.75 and gave the company a "buy" rating in a report on Friday, June 6th.

Lucid Diagnostics Price Performance

Shares of NASDAQ:LUCD traded up $0.02 during trading on Tuesday, hitting $1.00. The company had a trading volume of 226,092 shares, compared to its average volume of 998,713. The company has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.25. The stock has a market cap of $107.86 million, a price-to-earnings ratio of -0.75 and a beta of 1.21. Lucid Diagnostics has a one year low of $0.73 and a one year high of $1.80.

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new position in shares of Lucid Diagnostics during the first quarter worth about $2,813,000. Geode Capital Management LLC raised its position in shares of Lucid Diagnostics by 420.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company's stock worth $1,814,000 after purchasing an additional 1,274,194 shares during the period. Ghisallo Capital Management LLC bought a new stake in Lucid Diagnostics in the 1st quarter valued at about $629,000. XML Financial LLC acquired a new stake in Lucid Diagnostics in the 1st quarter valued at approximately $266,000. Finally, Citadel Advisors LLC bought a new position in shares of Lucid Diagnostics in the fourth quarter valued at approximately $98,000. Institutional investors and hedge funds own 74.01% of the company's stock.

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.