Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Update

Lucid Diagnostics Inc. (NASDAQ:LUCD) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 5,797,071 shares, a decline of 13.8% from the February 26th total of 6,727,046 shares. Approximately 4.5% of the company’s shares are short sold. Based on an average trading volume of 696,565 shares, the days-to-cover ratio is currently 8.3 days.

Hedge Funds Weigh In On Lucid Diagnostics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. bought a new position in Lucid Diagnostics during the 3rd quarter worth approximately $1,138,000. Ghisallo Capital Management LLC acquired a new position in Lucid Diagnostics during the third quarter valued at approximately $2,990,000. Aberdeen Group plc bought a new stake in Lucid Diagnostics in the third quarter valued at approximately $2,525,000. Centiva Capital LP acquired a new stake in Lucid Diagnostics in the third quarter worth $25,000. Finally, Bank of America Corp DE raised its holdings in Lucid Diagnostics by 41.5% in the third quarter. Bank of America Corp DE now owns 40,663 shares of the company’s stock worth $41,000 after purchasing an additional 11,917 shares during the period. Institutional investors own 74.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LUCD shares. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price target on shares of Lucid Diagnostics in a report on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Monday, December 29th. Wall Street Zen upgraded shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a research report on Saturday. BTIG Research reaffirmed a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a research note on Monday. Finally, Ascendiant Capital Markets raised their target price on shares of Lucid Diagnostics from $8.00 to $8.25 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3.94.

Lucid Diagnostics Price Performance

Shares of Lucid Diagnostics stock traded up $0.01 on Tuesday, hitting $1.16. 100,906 shares of the company’s stock traded hands, compared to its average volume of 1,298,142. The firm’s 50-day moving average price is $1.29 and its two-hundred day moving average price is $1.18. The stock has a market capitalization of $159.02 million, a PE ratio of -1.20 and a beta of 1.18. Lucid Diagnostics has a one year low of $0.95 and a one year high of $1.80.

Lucid Diagnostics (NASDAQ:LUCD) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $1.50 million during the quarter, compared to analyst estimates of $1.39 million. On average, analysts forecast that Lucid Diagnostics will post -0.84 earnings per share for the current fiscal year.

Lucid Diagnostics Company Profile

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company’s flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.