Lucid Diagnostics (NASDAQ:LUCD) Shares Down 14.4% – What’s Next?

Lucid Diagnostics Inc. (NASDAQ:LUCD)’s stock price fell 14.4% on Monday . The stock traded as low as $1.19 and last traded at $1.19. 802,875 shares traded hands during trading, an increase of 144% from the average session volume of 329,035 shares. The stock had previously closed at $1.39.

Wall Street Analysts Forecast Growth

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

Lucid Diagnostics Stock Performance

The company has a 50-day moving average of $1.11 and a 200-day moving average of $0.95. The firm has a market capitalization of $78.33 million, a price-to-earnings ratio of -1.16 and a beta of 1.34.

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC grew its position in shares of Lucid Diagnostics by 29.1% in the 4th quarter. LPL Financial LLC now owns 53,391 shares of the company’s stock valued at $44,000 after purchasing an additional 12,035 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Lucid Diagnostics in the 4th quarter valued at approximately $67,000. Citadel Advisors LLC acquired a new position in shares of Lucid Diagnostics in the 4th quarter valued at approximately $98,000. Lido Advisors LLC grew its position in shares of Lucid Diagnostics by 40.0% in the 4th quarter. Lido Advisors LLC now owns 140,016 shares of the company’s stock valued at $115,000 after purchasing an additional 40,000 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Lucid Diagnostics by 30.9% in the 4th 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.

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.