Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Drops By 18.9%

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 568,100 shares, a decrease of 18.9% from the July 15th total of 700,500 shares. Based on an average daily volume of 147,900 shares, the short-interest ratio is presently 3.8 days. Currently, 3.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

LUCD has been the topic of a number of recent analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $3.00 price target on shares of Lucid Diagnostics in a report on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and set a $2.50 target price on shares of Lucid Diagnostics in a research report on Tuesday, August 13th. Canaccord Genuity Group raised Lucid Diagnostics to a “strong-buy” rating in a research note on Tuesday, August 13th. Ascendiant Capital Markets reduced their target price on shares of Lucid Diagnostics from $8.00 to $7.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a research report on Wednesday, May 15th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $4.00.

Lucid Diagnostics Stock Performance

NASDAQ LUCD remained flat at $0.84 during trading on Friday. 69,638 shares of the company were exchanged, compared to its average volume of 156,217. The firm’s fifty day moving average is $0.80 and its 200-day moving average is $0.95. Lucid Diagnostics has a 52-week low of $0.63 and a 52-week high of $1.72. The company has a market capitalization of $43.77 million, a price-to-earnings ratio of -0.66 and a beta of 1.45.

Hedge Funds Weigh In On Lucid Diagnostics

An institutional investor recently raised its position in Lucid Diagnostics stock. Virtu Financial LLC raised its stake in shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,671 shares of the company’s stock after acquiring an additional 13,835 shares during the period. Virtu Financial LLC owned about 0.07% of Lucid Diagnostics worth $28,000 as of its most recent SEC filing. 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.