Lucid Diagnostics (NASDAQ:LUCD) Shares Up 1.5% – Here’s What Happened

Lucid Diagnostics Inc. (NASDAQ:LUCD)’s share price shot up 1.5% on Tuesday . The company traded as high as $0.99 and last traded at $0.98. 610,223 shares were traded during mid-day trading, an increase of 245% from the average session volume of 176,781 shares. The stock had previously closed at $0.97.

Analysts Set New Price Targets

A number of research firms recently weighed in on LUCD. Needham & Company LLC restated a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a research note on Tuesday, August 13th. Canaccord Genuity Group restated a “buy” rating and issued a $3.00 price target on shares of Lucid Diagnostics in a research note on Tuesday, August 13th. Canaccord Genuity Group upgraded Lucid Diagnostics to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Ascendiant Capital Markets decreased their target price on Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $3.94.

Lucid Diagnostics Price Performance

The company has a 50-day moving average price of $0.83 and a 200-day moving average price of $0.83. The firm has a market capitalization of $52.32 million, a PE ratio of -0.83 and a beta of 1.47.

Lucid Diagnostics (NASDAQ:LUCD) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $0.98 million during the quarter. On average, research analysts predict that Lucid Diagnostics Inc. will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lucid Diagnostics

An institutional investor recently raised its position in Lucid Diagnostics stock. Virtu Financial LLC boosted its holdings in Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,671 shares of the company’s stock after purchasing an additional 13,835 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of Lucid Diagnostics worth $28,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 74.01% of the company’s stock.

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.