Canaccord Genuity Group Lowers Lucid Diagnostics (NASDAQ:LUCD) Price Target to $8.00

Lucid Diagnostics (NASDAQ:LUCDGet Rating) had its target price cut by equities research analysts at Canaccord Genuity Group from $12.00 to $8.00 in a report released on Thursday, The Fly reports. Canaccord Genuity Group’s price target points to a potential upside of 330.11% from the stock’s current price.

Other analysts have also issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Lucid Diagnostics in a research note on Friday, February 4th. BTIG Research cut their price objective on Lucid Diagnostics from $14.00 to $6.00 in a research note on Tuesday, April 5th. Canaccord Genuity Group cut their price objective on Lucid Diagnostics from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 29th. Zacks Investment Research raised Lucid Diagnostics from a “sell” rating to a “hold” rating in a research note on Thursday, May 5th. Finally, Needham & Company LLC lowered their target price on Lucid Diagnostics from $13.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, March 29th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Lucid Diagnostics currently has a consensus rating of “Buy” and an average price target of $12.57.

Shares of LUCD stock traded down $0.15 during mid-day trading on Thursday, reaching $1.86. 164,469 shares of the stock traded hands, compared to its average volume of 183,687. The stock’s fifty day simple moving average is $2.79 and its two-hundred day simple moving average is $4.72. Lucid Diagnostics has a 1-year low of $1.79 and a 1-year high of $13.52.

Lucid Diagnostics (NASDAQ:LUCDGet Rating) last announced its quarterly earnings results on Monday, March 28th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). On average, sell-side analysts predict that Lucid Diagnostics will post -1.11 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in LUCD. Covalis Capital LLP purchased a new position in shares of Lucid Diagnostics during the fourth quarter valued at approximately $722,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Lucid Diagnostics during the fourth quarter valued at approximately $714,000. Millennium Management LLC purchased a new position in shares of Lucid Diagnostics during the fourth quarter valued at approximately $351,000. BlackRock Inc. purchased a new position in shares of Lucid Diagnostics during the fourth quarter valued at approximately $305,000. Finally, State Street Corp purchased a new position in Lucid Diagnostics in the fourth quarter worth $245,000. 8.84% of the stock is currently owned by institutional investors.

About Lucid Diagnostics (Get Rating)

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company. The company focuses on patients with gastroesophageal reflux disease, also known as chronic heartburn, acid reflux or simply reflux, who are at risk of developing esophageal precancer and cancer, specifically highly lethal esophageal adenocarcinoma.

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