Lucid Diagnostics (NASDAQ:LUCD) Given New $3.00 Price Target at Needham & Company LLC

Lucid Diagnostics (NASDAQ:LUCD) had its price objective increased by stock analysts at Needham & Company LLC from $2.50 to $3.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 96.72% from the company’s previous close.

Separately, Ascendiant Capital Markets lowered their price target 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lucid Diagnostics has an average rating of “Buy” and a consensus target price of $3.75.

Lucid Diagnostics Price Performance

NASDAQ:LUCD traded up $0.01 during trading hours on Monday, reaching $1.53. 1,347,823 shares of the company traded hands, compared to its average volume of 630,977. Lucid Diagnostics has a 1-year low of $0.63 and a 1-year high of $1.63. The stock has a market cap of $90.50 million, a P/E ratio of -1.34 and a beta of 1.34. The firm’s 50-day moving average is $1.20 and its 200-day moving average is $0.98.

Lucid Diagnostics (NASDAQ:LUCD) last released its earnings results on Monday, March 24th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06). As a group, research analysts predict that Lucid Diagnostics will post -0.84 earnings per share for the current year.

Hedge Funds Weigh In On Lucid Diagnostics

A number of hedge funds have recently made changes to their positions in LUCD. Sunbelt Securities Inc. acquired a new stake in Lucid Diagnostics in the 4th quarter valued at $67,000. Citadel Advisors LLC purchased a new stake in shares of Lucid Diagnostics in the fourth quarter worth about $98,000. Lido Advisors LLC grew its stake in shares of 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. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 65,964 shares during the period. Finally, LPL Financial LLC lifted its position in Lucid Diagnostics by 29.1% during the 4th quarter. LPL Financial LLC now owns 53,391 shares of the company’s stock worth $44,000 after acquiring an additional 12,035 shares in the last quarter. Hedge funds and other 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.