Brokerages Set Lucid Diagnostics Inc. (NASDAQ:LUCD) Price Target at $3.55

Lucid Diagnostics Inc. (NASDAQ:LUCD) has been given an average rating of “Buy” by the five analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $3.55.

LUCD has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a research report on Wednesday, May 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2.00 target price on shares of Lucid Diagnostics in a research report on Thursday, May 15th. Wall Street Zen downgraded Lucid Diagnostics from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. BTIG Research set a $2.00 price objective on Lucid Diagnostics in a research report on Tuesday, March 25th. Finally, Ascendiant Capital Markets boosted their price objective on Lucid Diagnostics from $7.50 to $7.75 and gave the company a “buy” rating in a research report on Friday, June 6th.

Lucid Diagnostics Price Performance

LUCD opened at $1.17 on Friday. The stock has a market cap of $126.58 million, a PE ratio of -0.87 and a beta of 1.23. The business has a 50 day moving average of $1.24 and a 200-day moving average of $1.23. Lucid Diagnostics has a 52 week low of $0.72 and a 52 week high of $1.80.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LUCD. LPL Financial LLC boosted its holdings in shares of Lucid Diagnostics by 29.1% in the fourth quarter. LPL Financial LLC now owns 53,391 shares of the company’s stock valued at $44,000 after purchasing an additional 12,035 shares during the period. Berkshire Asset Management LLC PA acquired a new position in shares of Lucid Diagnostics during the first quarter worth $30,000. Goldman Sachs Group Inc. increased its position in shares of Lucid Diagnostics by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock worth $129,000 after purchasing an additional 22,727 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Lucid Diagnostics during the first quarter worth $37,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Lucid Diagnostics in the 1st quarter valued at $39,000. Institutional investors own 74.01% of the company’s stock.

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.