Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Down 39.3% in May

Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 1,080,000 shares, a drop of 39.3% from the May 15th total of 1,780,000 shares. Approximately 2.7% of the company's shares are sold short. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 0.9 days.

Lucid Diagnostics Stock Down 2.3%

LUCD stock traded down $0.03 during midday trading on Monday, reaching $1.26. 753,191 shares of the company's stock traded hands, compared to its average volume of 586,756. The company has a market cap of $136.32 million, a price-to-earnings ratio of -1.11 and a beta of 1.31. The firm's fifty day moving average price is $1.29 and its 200-day moving average price is $1.18. Lucid Diagnostics has a 52 week low of $0.68 and a 52 week high of $1.80.

Institutional Trading of Lucid Diagnostics

A number of hedge funds and other institutional investors have recently bought and sold shares of LUCD. Alyeska Investment Group L.P. purchased a new position in Lucid Diagnostics during the 1st quarter worth $2,813,000. Ghisallo Capital Management LLC purchased a new position in Lucid Diagnostics during the 1st quarter worth $629,000. XML Financial LLC purchased a new position in Lucid Diagnostics during the 1st quarter worth $266,000. Citadel Advisors LLC purchased a new position in Lucid Diagnostics during the 4th quarter worth $98,000. Finally, Sunbelt Securities Inc. purchased a new position in Lucid Diagnostics during the 4th quarter worth $67,000. Institutional investors own 74.01% of the company's stock.

Analysts Set New Price Targets

LUCD has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $3.00 price target on shares of Lucid Diagnostics in a report on Wednesday, May 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2.00 price objective on shares of Lucid Diagnostics in a research note on Thursday, May 15th. BTIG Research set a $2.00 price objective on shares of Lucid Diagnostics in a research note on Tuesday, March 25th. Wall Street Zen lowered shares of Lucid Diagnostics from a "hold" rating to a "sell" rating in a research note 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 research note on Friday, June 6th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $3.55.

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.