  A new baryonic state $\Lambda_{c}(2940)^{+}$ has recently been discovered by
the Babar collaboration in the $D^{0}p$ channel. Later Belle collaboration also
observed this state in the $\Sigma_c(2455)^{0,++} \pi^{\pm}\to
\Lambda_{c}^{+}\pi^{+}\pi^{-}$ channel. The mass of $\Lambda_{c}(2940)^{+}$ is
just a few MeV below the sum of $D^{*0}$ and $p$ masses suggesting a
possibility that this state may be a $D^{*0} p$ molecular state. In this paper
we study whether such a molecular state can be consistent with data. We find
that the molecular structure can explain data and that if $\Lambda_c(2940)^+$
is a $D^{*0} p$ molecular state it is likely a $1/2^-$ state. Several other
decays modes are also suggested to further test the molecular structure of
$\Lambda_c^+(2940)$.
