Analysts Set Lucid Diagnostics Inc. (NASDAQ:LUCD) Price Target at $3.50

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) have been given an average recommendation of "Buy" by the five research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $3.50.

LUCD has been the subject of a number of research reports. 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, May 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $2.00 price target on shares of Lucid Diagnostics in a research note on Thursday, May 15th. BTIG Research set a $2.00 price objective on Lucid Diagnostics in a research note on Tuesday, March 25th. Wall Street Zen cut shares of Lucid Diagnostics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Ascendiant Capital Markets increased their price target on Lucid Diagnostics from $7.00 to $7.50 and gave the company a "buy" rating in a report on Monday, April 21st.

Lucid Diagnostics Stock Performance

NASDAQ LUCD traded down $0.08 on Thursday, reaching $1.52. 1,541,866 shares of the stock traded hands, compared to its average volume of 900,636. Lucid Diagnostics has a 12 month low of $0.68 and a 12 month high of $1.80. The company has a fifty day moving average price of $1.36 and a 200-day moving average price of $1.15. The company has a market cap of $163.91 million, a price-to-earnings ratio of -1.33 and a beta of 1.28.

Hedge Funds Weigh In On Lucid Diagnostics

Several hedge funds and other institutional investors have recently bought and sold shares of LUCD. Sargent Investment Group LLC purchased a new position in shares of Lucid Diagnostics during the 4th quarter worth $442,000. LPL Financial LLC grew its stake in shares of 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 acquiring an additional 12,035 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Lucid Diagnostics by 30.9% during 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 in the last quarter. Lido Advisors LLC lifted its holdings in Lucid Diagnostics by 40.0% during the 4th 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 last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Lucid Diagnostics by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company's stock valued at $129,000 after purchasing an additional 22,727 shares during the last quarter. 74.01% of the stock is owned by institutional investors and hedge funds.

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.