Short Interest in Lucid Diagnostics Inc. (NASDAQ:LUCD) Rises By 72.1%

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,790,000 shares, an increase of 72.1% from the February 13th total of 1,040,000 shares. Based on an average trading volume of 576,100 shares, the days-to-cover ratio is presently 3.1 days. Approximately 5.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LUCD. Ascendiant Capital Markets dropped their price objective on shares of Lucid Diagnostics from $7.25 to $7.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Cantor Fitzgerald dropped their price objective on shares of Lucid Diagnostics from $3.00 to $2.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $3.63.

Institutional Investors Weigh In On Lucid Diagnostics

Large investors have recently bought and sold shares of the business. 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. Sunbelt Securities Inc. bought a new stake in Lucid Diagnostics in the fourth quarter worth $67,000. Citadel Advisors LLC bought a new stake in Lucid Diagnostics in the fourth quarter worth $98,000. Lido Advisors LLC increased 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 worth $115,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Lucid Diagnostics by 30.9% in the fourth quarter. Geode Capital Management LLC now owns 279,504 shares of the company’s stock worth $229,000 after purchasing an additional 65,964 shares during the last quarter. Institutional investors own 74.01% of the company’s stock.

Lucid Diagnostics Trading Up 8.6 %

NASDAQ LUCD opened at $1.39 on Friday. The company’s 50 day moving average is $1.14 and its two-hundred day moving average is $0.96. Lucid Diagnostics has a 12 month low of $0.63 and a 12 month high of $1.63. The stock has a market cap of $82.49 million, a price-to-earnings ratio of -1.22 and a beta of 1.34.

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.