Lucid Diagnostics Inc. (NASDAQ:LUCD) Sees Significant Decline in Short Interest

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,220,000 shares, a decline of 31.8% from the February 28th total of 1,790,000 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 601,900 shares, the days-to-cover ratio is currently 2.0 days.

Lucid Diagnostics Trading Down 5.7 %

Lucid Diagnostics stock opened at $1.49 on Tuesday. Lucid Diagnostics has a 1 year low of $0.63 and a 1 year high of $1.63. The company’s 50-day moving average is $1.28 and its two-hundred day moving average is $1.01. The company has a market cap of $135.22 million, a PE ratio of -1.31 and a beta of 1.34.

Institutional Investors Weigh In On Lucid Diagnostics

A number of institutional investors have recently made changes to their positions in the stock. LPL Financial LLC boosted its stake in Lucid Diagnostics by 29.1% during 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 during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Lucid Diagnostics in the 4th quarter valued at $67,000. Citadel Advisors LLC bought a new position in Lucid Diagnostics during the fourth quarter worth about $98,000. Lido Advisors LLC boosted its holdings in shares of Lucid Diagnostics by 40.0% in the fourth quarter. Lido Advisors LLC now owns 140,016 shares of the company’s stock valued at $115,000 after buying an additional 40,000 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Lucid Diagnostics by 30.9% during the 4th quarter. Geode Capital Management LLC now owns 279,504 shares of the company’s stock worth $229,000 after purchasing an additional 65,964 shares in the last quarter. 74.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LUCD has been the topic of several analyst reports. Ascendiant Capital Markets lowered their target price on shares of Lucid Diagnostics from $7.25 to $7.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2.00 target price on shares of Lucid Diagnostics in a research note on Wednesday, March 26th. Needham & Company LLC raised their price target on Lucid Diagnostics from $2.50 to $3.00 and gave the company a “buy” rating in a report on Monday, March 24th. Finally, BTIG Research set a $2.00 target price on Lucid Diagnostics in a research note on Tuesday, March 25th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $3.40.

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.