Wynnefield Partners Small Cap Purchases 122,930 Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) Stock

Lifecore Biomedical, Inc. (NASDAQ:LFCR) major shareholder Wynnefield Partners Small Cap purchased 122,930 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was bought at an average price of $4.10 per share, for a total transaction of $504,013.00. Following the acquisition, the insider now owns 2,095,783 shares of the company’s stock, valued at $8,592,710.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lifecore Biomedical Price Performance

LFCR opened at $4.81 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.06 and a debt-to-equity ratio of 12.90. The company has a market cap of $145.85 million, a price-to-earnings ratio of -1.44 and a beta of 0.95. The stock has a fifty day simple moving average of $5.13 and a two-hundred day simple moving average of $5.52. Lifecore Biomedical, Inc. has a 12-month low of $3.68 and a 12-month high of $8.90.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings results on Monday, August 26th. The company reported ($0.15) earnings per share (EPS) for the quarter. Lifecore Biomedical had a negative return on equity of 515.12% and a net margin of 9.37%. The business had revenue of $37.89 million during the quarter. Research analysts predict that Lifecore Biomedical, Inc. will post -0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barrington Research cut shares of Lifecore Biomedical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Craig Hallum initiated coverage on Lifecore Biomedical in a research report on Thursday, September 5th. They set a “buy” rating and a $8.00 price objective on the stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Greenhaven Road Investment Management L.P. increased its holdings in shares of Lifecore Biomedical by 7.9% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 2,366,956 shares of the company’s stock valued at $14,652,000 after acquiring an additional 173,623 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Lifecore Biomedical by 79.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 43,001 shares of the company’s stock valued at $228,000 after purchasing an additional 19,094 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lifecore Biomedical in the first quarter worth about $58,000. Boston Partners bought a new position in shares of Lifecore Biomedical in the first quarter worth approximately $104,000. Finally, Marshall Wace LLP grew its holdings in shares of Lifecore Biomedical by 87.3% during the second quarter. Marshall Wace LLP now owns 300,120 shares of the company’s stock valued at $1,540,000 after buying an additional 139,887 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

About Lifecore Biomedical

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.