Lucid Diagnostics (NASDAQ:LUCD) Price Target Raised to $3.00

Lucid Diagnostics (NASDAQ:LUCD) had its price target boosted by Needham & Company LLC from $2.50 to $3.00 in a research note released on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Ascendiant Capital Markets reduced their price objective on Lucid Diagnostics from $7.25 to $7.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $3.40.

Lucid Diagnostics Stock Performance

Shares of LUCD opened at $1.55 on Monday. The company has a 50-day simple moving average of $1.24 and a 200-day simple moving average of $1.00. Lucid Diagnostics has a 52 week low of $0.63 and a 52 week high of $1.63. The firm has a market capitalization of $91.98 million, a P/E ratio of -1.36 and a beta of 1.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUCD. Sargent Investment Group LLC bought a new position in shares of Lucid Diagnostics during the fourth quarter valued at $442,000. Citadel Advisors LLC bought a new stake in shares of Lucid Diagnostics in the 4th quarter worth about $98,000. Sunbelt Securities Inc. acquired a new stake in shares of Lucid Diagnostics during the 4th quarter worth about $67,000. Geode Capital Management LLC lifted 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 valued at $229,000 after purchasing an additional 65,964 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in 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 in the last quarter. 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.