Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Down 31.1% in October

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totaling 3,680,000 shares, a drop of 31.1% from the September 30th total of 5,340,000 shares. Currently, 7.7% of the company’s stock are short sold. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 3.1 days. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 7.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LUCD. Ascendiant Capital Markets raised their target price on shares of Lucid Diagnostics from $7.75 to $8.00 and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lucid Diagnostics in a report on Tuesday, October 14th. Wall Street Zen raised shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, October 14th. BTIG Research boosted their target price on Lucid Diagnostics from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of Lucid Diagnostics in a research note on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.70.

Insiders Place Their Bets

In other news, Director Dennis Matheis bought 100,000 shares of Lucid Diagnostics stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $1.02 per share, with a total value of $102,000.00. Following the completion of the acquisition, the director directly owned 665,443 shares in the company, valued at $678,751.86. The trade was a 17.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUCD. Alyeska Investment Group L.P. acquired a new position in shares of Lucid Diagnostics in the first quarter valued at approximately $2,813,000. Geode Capital Management LLC grew its holdings in Lucid Diagnostics by 420.3% during the second quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company’s stock worth $1,814,000 after acquiring an additional 1,274,194 shares during the period. Perkins Capital Management Inc. acquired a new position in Lucid Diagnostics during the third quarter worth $1,138,000. Luminus Management LLC grew its holdings in Lucid Diagnostics by 14.8% during the third quarter. Luminus Management LLC now owns 912,805 shares of the company’s stock worth $922,000 after acquiring an additional 117,975 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new position in Lucid Diagnostics during the first quarter worth $629,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

Lucid Diagnostics Stock Down 9.1%

LUCD traded down $0.11 during trading on Tuesday, hitting $1.10. 513,894 shares of the stock were exchanged, compared to its average volume of 1,060,542. The firm has a market capitalization of $146.83 million, a P/E ratio of -0.92 and a beta of 1.22. Lucid Diagnostics has a 1-year low of $0.75 and a 1-year high of $1.80. The stock has a fifty day moving average price of $1.16 and a two-hundred day moving average price of $1.18.

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.