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

Lucid Diagnostics Inc. (NASDAQ:LUCD) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 5,797,071 shares, a drop of 13.8% from the February 26th total of 6,727,046 shares. Currently, 4.5% of the shares of the stock are sold short. 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

A number of institutional investors have recently modified their holdings of LUCD. Quadrature Capital Ltd bought a new stake in shares of Lucid Diagnostics during the second quarter valued at approximately $29,000. Centiva Capital LP bought a new position in Lucid Diagnostics in the 3rd quarter worth approximately $25,000. Sprott Inc. bought a new position in Lucid Diagnostics in the 3rd quarter worth approximately $25,000. Cubist Systematic Strategies LLC acquired a new position in Lucid Diagnostics during the 1st quarter worth $39,000. Finally, SG Americas Securities LLC acquired a new position in Lucid Diagnostics during the 3rd quarter worth $26,000. 74.01% of the stock is owned by institutional investors.

Lucid Diagnostics Price Performance

Shares of LUCD stock traded up $0.01 during trading hours on Tuesday, hitting $1.16. 100,906 shares of the company’s stock were exchanged, compared to its average volume of 1,298,142. Lucid Diagnostics has a 52 week low of $0.95 and a 52 week high of $1.80. The stock has a market cap of $159.02 million, a price-to-earnings ratio of -1.20 and a beta of 1.18. The stock’s 50-day moving average is $1.29 and its 200-day moving average is $1.18.

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

Analyst Upgrades and Downgrades

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

About Lucid Diagnostics

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.