Lucid Diagnostics (NASDAQ:LUCD) Rating Increased to Hold at Wall Street Zen

Key Points

• Lucid Diagnostics (NASDAQ:LUCD) has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
• Several brokerages have issued varying ratings, with Needham & Company maintaining a "buy" rating and setting a $3.00 price target, while others have upped their targets as well.
• In a positive sign for investor confidence, insider buying has occurred with Director Dennis Matheis purchasing 100,000 shares, increasing his position in the company by nearly 18%.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages have also weighed in on LUCD. Needham & Company LLC restated a "buy" rating and set a $3.00 price target on shares of Lucid Diagnostics in a research note on Wednesday, August 13th. BTIG Research upped their target price on Lucid Diagnostics from $2.00 to $2.50 and gave the company a "buy" rating in a research report on Friday, September 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lucid Diagnostics in a research report on Saturday, September 27th. Finally, Ascendiant Capital Markets upped their target price on Lucid Diagnostics from $7.75 to $8.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $3.70.

Lucid Diagnostics Stock Performance

Shares of LUCD stock opened at $1.18 on Tuesday. Lucid Diagnostics has a fifty-two week low of $0.75 and a fifty-two week high of $1.80. The firm has a market capitalization of $157.51 million, a price-to-earnings ratio of -0.99 and a beta of 1.19. The stock's 50-day simple moving average is $1.10 and its 200-day simple moving average is $1.20.

Insider Buying and Selling

In related news, Director Dennis Matheis acquired 100,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $1.02 per share, for a total transaction of $102,000.00. Following the transaction, the director owned 665,443 shares in the company, valued at approximately $678,751.86. This trade represents a 17.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Lucid Diagnostics

Several hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new stake in Lucid Diagnostics in the 1st quarter worth approximately $2,813,000. Geode Capital Management LLC boosted its position in Lucid Diagnostics by 420.3% in 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 in the last quarter. Luminus Management LLC boosted its position in Lucid Diagnostics by 14.8% in the 3rd quarter. Luminus Management LLC now owns 912,805 shares of the company's stock worth $922,000 after purchasing an additional 117,975 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in Lucid Diagnostics in the 1st quarter worth approximately $629,000. Finally, XML Financial LLC purchased a new stake in Lucid Diagnostics in the 1st quarter worth approximately $266,000. Hedge funds and other institutional investors 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.

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