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

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

Analyst Upgrades and Downgrades

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

Lifecore Biomedical Price Performance

The business’s 50-day moving average price is $4.63 and its 200 day moving average price is $6.54. The firm has a market capitalization of $181.92 million, a price-to-earnings ratio of -5.16 and a beta of 1.06.

Lifecore Biomedical (NASDAQ:LFCR) last posted its earnings results on Wednesday, May 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). Lifecore Biomedical had a negative return on equity of 1,643.15% and a negative net margin of 25.43%.The firm had revenue of $23.19 million for the quarter, compared to analyst estimates of $25.96 million. As a group, sell-side analysts expect that Lifecore Biomedical, Inc. will post -0.97 earnings per share for the current year.

Institutional Trading of Lifecore Biomedical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in shares of 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 buying an additional 16,961 shares during the last quarter. Quarry LP bought a new stake in shares of Lifecore Biomedical in the third quarter worth $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Lifecore Biomedical by 14.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,785 shares of the company’s stock worth $104,000 after buying an additional 1,886 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Lifecore Biomedical in the fourth quarter worth $123,000. Finally, AQR Capital Management LLC increased its stake in shares of 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 buying an additional 3,574 shares during the last quarter. 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.