Lifecore Biomedical (NASDAQ:LFCR) Shares Down 3.3% – Time to Sell?

Lifecore Biomedical, Inc. (NASDAQ:LFCR)’s share price was down 3.3% during trading on Thursday . The stock traded as low as $4.38 and last traded at $4.43. 122,160 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 228,903 shares. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Lifecore Biomedical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Barrington Research increased their price target on shares of Lifecore Biomedical from $6.00 to $6.50 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Weiss Ratings cut shares of Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Lifecore Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $6.50.

Lifecore Biomedical Trading Down 3.3%

The business has a 50-day moving average price of $5.09 and a 200-day moving average price of $5.82. The stock has a market cap of $166.17 million, a PE ratio of -4.71 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.14). The company had revenue of $23.19 million for the quarter, compared to the consensus estimate of $25.96 million. Equities analysts expect that Lifecore Biomedical, Inc. will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Lifecore Biomedical

Several institutional investors have recently bought and sold shares of LFCR. Invesco Ltd. purchased a new stake in shares of Lifecore Biomedical during the second quarter worth approximately $3,081,000. Squarepoint Ops LLC grew its holdings in shares of Lifecore Biomedical by 385.9% during the third quarter. Squarepoint Ops LLC now owns 150,909 shares of the company’s stock worth $1,111,000 after buying an additional 119,851 shares in the last quarter. Millennium Management LLC raised its position in shares of Lifecore Biomedical by 86.2% in the fourth quarter. Millennium Management LLC now owns 251,705 shares of the company’s stock valued at $2,059,000 after buying an additional 116,500 shares during the last quarter. Quinn Opportunity Partners LLC lifted its stake in shares of Lifecore Biomedical by 31.5% in the fourth quarter. Quinn Opportunity Partners LLC now owns 242,670 shares of the company’s stock worth $1,985,000 after buying an additional 58,189 shares in the last quarter. Finally, State Street Corp boosted its position in Lifecore Biomedical by 8.5% during the fourth quarter. State Street Corp now owns 585,386 shares of the company’s stock worth $4,788,000 after acquiring an additional 46,102 shares during the last quarter. 83.36% of the stock is currently owned by institutional investors and hedge funds.

About Lifecore Biomedical

Lifecore Biomedical, Inc is a publicly traded specialty biopharmaceutical company headquartered in Chaska, Minnesota. The company focuses on the development, manufacture and commercialization of hyaluronic acid (HA)–based products that address medical and aesthetic needs. Lifecore’s proprietary HA formulations are designed to meet strict regulatory standards for purity, consistency and performance in highly regulated markets.

The company’s product portfolio spans multiple therapeutic areas, including ophthalmology, orthopedics, dermatology and wound care.