Lucid Diagnostics’ (LUCD) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lucid Diagnostics (NASDAQ:LUCD) in a report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $3.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2.00 price objective on shares of Lucid Diagnostics in a research note on Thursday, May 15th. Wall Street Zen downgraded Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets increased their price objective on shares of Lucid Diagnostics from $7.50 to $7.75 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, BTIG Research set a $2.00 price objective on shares of Lucid Diagnostics in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.55.

Lucid Diagnostics Stock Performance

Shares of Lucid Diagnostics stock opened at $1.12 on Wednesday. Lucid Diagnostics has a fifty-two week low of $0.72 and a fifty-two week high of $1.80. The company has a market capitalization of $121.17 million, a P/E ratio of -0.84 and a beta of 1.23. The company has a fifty day moving average of $1.24 and a 200 day moving average of $1.23.

Hedge Funds Weigh In On Lucid Diagnostics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUCD. LPL Financial LLC increased its position in Lucid Diagnostics by 29.1% in the fourth quarter. LPL Financial LLC now owns 53,391 shares of the company’s stock worth $44,000 after purchasing an additional 12,035 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lucid Diagnostics by 30.9% in the 4th quarter. Geode Capital Management LLC now owns 279,504 shares of the company’s stock worth $229,000 after buying an additional 65,964 shares in the last quarter. Lido Advisors LLC increased its holdings in shares of Lucid Diagnostics by 40.0% in the 4th quarter. Lido Advisors LLC now owns 140,016 shares of the company’s stock worth $115,000 after buying an additional 40,000 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Lucid Diagnostics during the 4th quarter valued at about $98,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Lucid Diagnostics during the 4th quarter valued at about $67,000. 74.01% of the stock is owned by institutional investors.

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.