Lucid Diagnostics (NASDAQ:LUCD) Price Target Raised to $8.00

Key Points

• Lucid Diagnostics' stock price target has been raised from $7.75 to $8.00 by Ascendiant Capital Markets, which maintains a "buy" rating on the stock.
• Currently, five analysts have rated Lucid Diagnostics as a "buy," while one analyst has given it a "sell," leading to an average rating of "Moderate Buy" and an average target price of $3.70.
• Director Dennis Matheis acquired 100,000 shares at $1.02 each, increasing his total holdings by 17.69%, reflecting insider confidence in the company.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) had its price target boosted by investment analysts at Ascendiant Capital Markets from $7.75 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock.

A number of other equities research analysts have also commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research report on Wednesday, August 13th. Wall Street Zen cut Lucid Diagnostics from a "hold" rating to a "sell" rating in a research note on Monday. BTIG Research lifted their target price on shares of Lucid Diagnostics from $2.00 to $2.50 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lucid Diagnostics in a report on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $3.70.

Lucid Diagnostics Stock Up 2.0%

NASDAQ:LUCD opened at $1.04 on Monday. The stock has a market cap of $138.82 million, a PE ratio of -0.87 and a beta of 1.19. The business's 50-day simple moving average is $1.09 and its two-hundred day simple moving average is $1.21. Lucid Diagnostics has a 52 week low of $0.75 and a 52 week high of $1.80.

Insider Buying and Selling at Lucid Diagnostics

In other Lucid Diagnostics news, Director Dennis Matheis bought 100,000 shares of Lucid Diagnostics stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of $1.02 per share, for a total transaction of $102,000.00. Following the purchase, the director owned 665,443 shares of the company's stock, valued at $678,751.86. The trade was a 17.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Lucid Diagnostics

Institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in Lucid Diagnostics in the 2nd quarter worth about $29,000. Berkshire Asset Management LLC PA bought a new position in shares of Lucid Diagnostics in the 1st quarter worth $30,000. Traphagen Investment Advisors LLC bought a new position in Lucid Diagnostics in the 2nd quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Lucid Diagnostics during the first quarter valued at about $37,000. Finally, JPMorgan Chase & Co. lifted its holdings in Lucid Diagnostics by 71,026.1% during the second quarter. JPMorgan Chase & Co. now owns 32,718 shares of the company's stock worth $38,000 after acquiring an additional 32,672 shares during the period. 74.01% of the stock is currently owned by 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.

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