Lucid Diagnostics Inc. (NASDAQ:LUCD) Short Interest Up 12.4% in October

Lucid Diagnostics Inc. (NASDAQ:LUCD) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 108,700 shares, a growth of 12.4% from the October 15th total of 96,700 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 45,100 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Investors Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Lucid Diagnostics by 18.7% during the 1st quarter. BlackRock Inc. now owns 67,565 shares of the company’s stock worth $227,000 after purchasing an additional 10,636 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Lucid Diagnostics by 25.6% during the 1st quarter. Vanguard Group Inc. now owns 312,876 shares of the company’s stock worth $1,051,000 after purchasing an additional 63,687 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Lucid Diagnostics during the 1st quarter worth approximately $122,000. State Street Corp increased its stake in shares of Lucid Diagnostics by 24.4% during the 1st quarter. State Street Corp now owns 56,693 shares of the company’s stock worth $190,000 after purchasing an additional 11,121 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Lucid Diagnostics during the 1st quarter worth approximately $209,000. Hedge funds and other institutional investors own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LUCD shares. Needham & Company LLC cut their price target on shares of Lucid Diagnostics from $2.80 to $2.50 and set a “buy” rating on the stock in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $4.00 price objective on shares of Lucid Diagnostics in a research report on Tuesday, September 26th.

Lucid Diagnostics Price Performance

LUCD stock opened at $1.32 on Friday. The company’s 50-day moving average is $1.33 and its 200-day moving average is $1.43. Lucid Diagnostics has a 1 year low of $1.04 and a 1 year high of $2.12.

Lucid Diagnostics (NASDAQ:LUCD) last posted its earnings results on Monday, August 14th. The company reported ($0.26) earnings per share for the quarter. Lucid Diagnostics had a negative return on equity of 901.79% and a negative net margin of 4,153.13%. The business had revenue of $0.16 million during the quarter. As a group, equities analysts predict that Lucid Diagnostics will post -1.14 EPS for the current fiscal year.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company. The company focuses on patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma (EAC). It offers EsoCheck, a cell collection device to prevent EAC deaths; and EsoGuard, an Esophageal DNA Test.