Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Declines By 13.8%

Lucid Diagnostics Inc. (NASDAQ:LUCD) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 5,797,071 shares, a decrease of 13.8% from the February 26th total of 6,727,046 shares. Based on an average daily volume of 696,565 shares, the days-to-cover ratio is currently 8.3 days. Approximately 4.5% of the company’s stock are short sold.

Lucid Diagnostics Trading Up 3.0%

NASDAQ:LUCD traded up $0.04 during mid-day trading on Wednesday, reaching $1.19. The company’s stock had a trading volume of 180,686 shares, compared to its average volume of 1,286,919. Lucid Diagnostics has a 12-month low of $0.95 and a 12-month high of $1.80. The firm’s fifty day moving average price is $1.29 and its two-hundred day moving average price is $1.18. The stock has a market cap of $163.15 million, a P/E ratio of -1.23 and a beta of 1.18.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Thursday, March 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.39 million. Analysts predict that Lucid Diagnostics will post -0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on LUCD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a report on Thursday, March 26th. Wall Street Zen upgraded shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Monday, December 29th. Ascendiant Capital Markets boosted their price objective on shares of Lucid Diagnostics from $8.00 to $8.25 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.94.

Institutional Investors Weigh In On Lucid Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in Lucid Diagnostics in the 2nd quarter worth approximately $29,000. Centiva Capital LP bought a new position in shares of Lucid Diagnostics during the 3rd quarter valued at $25,000. Sprott Inc. bought a new position in shares of Lucid Diagnostics during the 3rd quarter valued at $25,000. Cubist Systematic Strategies LLC purchased a new position in shares of Lucid Diagnostics in the 1st quarter worth $39,000. Finally, SG Americas Securities LLC purchased a new position in shares of Lucid Diagnostics in the 3rd quarter worth $26,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

About Lucid Diagnostics

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company’s flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.