Lucid Diagnostics (NASDAQ:LUCD) Trading Down 14.4% – Here’s Why

Lucid Diagnostics Inc. (NASDAQ:LUCD) shares dropped 14.4% during trading on Monday . The company traded as low as $1.19 and last traded at $1.19. Approximately 802,875 shares were traded during mid-day trading, an increase of 144% from the average daily volume of 329,035 shares. The stock had previously closed at $1.39.

Wall Street Analysts Forecast Growth

LUCD has been the topic of a number of recent research reports. Ascendiant Capital Markets lowered their target price on Lucid Diagnostics from $7.25 to $7.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Canaccord Genuity Group restated a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a report on Thursday, November 14th. Finally, Cantor Fitzgerald cut their target price on Lucid Diagnostics from $3.00 to $2.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $3.63.

Lucid Diagnostics Stock Performance

The firm has a market capitalization of $70.62 million, a price-to-earnings ratio of -1.04 and a beta of 1.34. The business has a fifty day moving average price of $1.10 and a 200 day moving average price of $0.94.

Institutional Trading of Lucid Diagnostics

Large investors have recently modified their holdings of the business. Sargent Investment Group LLC bought a new position in shares of Lucid Diagnostics during the fourth quarter worth about $442,000. Citadel Advisors LLC acquired a new stake in Lucid Diagnostics in the fourth quarter worth $98,000. Sunbelt Securities Inc. acquired a new stake in Lucid Diagnostics in the fourth quarter worth $67,000. 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 buying an additional 40,000 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Lucid Diagnostics by 30.9% during the fourth quarter. Geode Capital Management LLC now owns 279,504 shares of the company’s stock valued at $229,000 after purchasing an additional 65,964 shares during the period. 74.01% of the stock is currently owned by institutional investors and hedge funds.

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.