Lucid Diagnostics (NASDAQ:LUCD) Given "Buy" Rating at Needham & Company LLC

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $3.00 price objective on the stock. Needham & Company LLC's price objective would indicate a potential upside of 167.86% from the company's previous close.

LUCD has been the subject of several other research reports. Ascendiant Capital Markets increased their price target on Lucid Diagnostics from $7.50 to $7.75 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wall Street Zen downgraded Lucid Diagnostics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. BTIG Research set a $2.00 target price on Lucid Diagnostics in a report on Tuesday, March 25th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2.00 target price on shares of Lucid Diagnostics in a report on Thursday, May 15th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.55.

Lucid Diagnostics Trading Down 1.8%

Shares of NASDAQ:LUCD traded down $0.02 on Wednesday, hitting $1.12. The company's stock had a trading volume of 744,185 shares, compared to its average volume of 711,554. Lucid Diagnostics has a 12 month low of $0.72 and a 12 month high of $1.80. The stock's 50-day moving average is $1.24 and its two-hundred day moving average is $1.23.

Institutional Investors Weigh In On Lucid Diagnostics

Several hedge funds have recently bought and sold shares of LUCD. LPL Financial LLC lifted its stake in Lucid Diagnostics by 29.1% in the 4th quarter. LPL Financial LLC now owns 53,391 shares of the company's stock worth $44,000 after acquiring an additional 12,035 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lucid Diagnostics by 30.9% in the 4th quarter. Geode Capital Management LLC now owns 279,504 shares of the company's stock worth $229,000 after acquiring an additional 65,964 shares in the last quarter. Lido Advisors LLC lifted its stake in Lucid Diagnostics by 40.0% in the 4th quarter. Lido Advisors LLC now owns 140,016 shares of the company's stock worth $115,000 after acquiring an additional 40,000 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Lucid Diagnostics in the 4th quarter worth about $98,000. Finally, Sunbelt Securities Inc. purchased a new stake in Lucid Diagnostics in the 4th quarter worth about $67,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

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.