Lifecore Biomedical (NASDAQ:LFCR) Stock Price Down 3.4% – Time to Sell?

Lifecore Biomedical, Inc. (NASDAQ:LFCR)’s stock price traded down 3.4% during mid-day trading on Monday . The company traded as low as $4.80 and last traded at $4.85. 177,695 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 181,522 shares. The stock had previously closed at $5.02.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of Lifecore Biomedical from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Lifecore Biomedical from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Barrington Research boosted their target price on shares of Lifecore Biomedical from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Lifecore Biomedical Stock Down 3.4%

The firm’s 50-day moving average price is $4.63 and its 200 day moving average price is $6.54. The firm has a market cap of $181.92 million, a P/E ratio of -5.16 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last released 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 firm had revenue of $23.19 million for the quarter, compared to the consensus estimate of $25.96 million. Lifecore Biomedical had a negative return on equity of 1,643.15% and a negative net margin of 25.43%. On average, equities analysts predict that Lifecore Biomedical, Inc. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On Lifecore Biomedical

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in Lifecore Biomedical by 64.4% in the first quarter. Bank of America Corp DE now owns 43,298 shares of the company’s stock worth $161,000 after purchasing an additional 16,961 shares during the period. SG Americas Securities LLC acquired a new stake in Lifecore Biomedical in the first quarter worth about $64,000. Millennium Management LLC lifted its holdings in Lifecore Biomedical by 86.2% in the fourth quarter. Millennium Management LLC now owns 251,705 shares of the company’s stock worth $2,059,000 after purchasing an additional 116,500 shares during the period. AQR Capital Management LLC lifted its holdings in Lifecore Biomedical by 28.4% in the fourth quarter. AQR Capital Management LLC now owns 16,171 shares of the company’s stock worth $132,000 after purchasing an additional 3,574 shares during the period. Finally, Jump Financial LLC acquired a new stake in Lifecore Biomedical in the fourth quarter worth about $123,000. Institutional investors own 83.36% of the company’s stock.

Lifecore Biomedical Company Profile

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.