Lucid Diagnostics Inc. (NASDAQ:LUCD) Sees Large Decline in Short Interest

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

Insider Buying and Selling at Lucid Diagnostics

In related news, Director Dennis Matheis purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $1.02 per share, for a total transaction of $102,000.00. Following the completion of the transaction, the director directly owned 665,443 shares in the company, valued at approximately $678,751.86. This represents a 17.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Lucid Diagnostics

Institutional investors have recently made changes to their positions in the stock. Berkshire Asset Management LLC PA purchased a new stake in shares of Lucid Diagnostics during the first quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Lucid Diagnostics in the first quarter worth $37,000. Quadrature Capital Ltd bought a new stake in Lucid Diagnostics in the second quarter valued at $29,000. Cubist Systematic Strategies LLC bought a new stake in Lucid Diagnostics in the first quarter valued at $39,000. Finally, SG Americas Securities LLC bought a new stake in Lucid Diagnostics in the third quarter valued at $26,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lucid Diagnostics Price Performance

Shares of NASDAQ:LUCD remained flat at $1.21 during trading on Monday. The stock had a trading volume of 529,040 shares, compared to its average volume of 1,138,695. The stock has a market capitalization of $161.51 million, a price-to-earnings ratio of -1.02 and a beta of 1.22. Lucid Diagnostics has a 52-week low of $0.75 and a 52-week high of $1.80. The firm’s 50-day simple moving average is $1.16 and its two-hundred day simple moving average is $1.18.

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.