Lifecore Biomedical (NASDAQ:LFCR) Stock Price Down 2.9% – Here’s Why

Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR) traded down 2.9% during mid-day trading on Thursday . The company traded as low as $6.57 and last traded at $6.61. 200,596 shares changed hands during trading, an increase of 78% from the average session volume of 112,578 shares. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Lifecore Biomedical to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lifecore Biomedical in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Lifecore Biomedical Stock Down 1.1%

The firm’s 50 day moving average price is $7.61 and its 200-day moving average price is $7.51. The company has a current ratio of 2.80, a quick ratio of 1.67 and a debt-to-equity ratio of 113.76. The company has a market cap of $245.05 million, a P/E ratio of -6.11 and a beta of 0.62.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LFCR. ARS Investment Partners LLC grew its stake in shares of Lifecore Biomedical by 150.0% during the second quarter. ARS Investment Partners LLC now owns 25,000 shares of the company’s stock worth $203,000 after purchasing an additional 15,000 shares during the period. Grizzlyrock Capital LLC acquired a new position in Lifecore Biomedical in the second quarter valued at about $5,964,000. Greenhaven Road Investment Management L.P. lifted its stake in Lifecore Biomedical by 2.2% in the second quarter. Greenhaven Road Investment Management L.P. now owns 3,694,832 shares of the company’s stock valued at $30,002,000 after buying an additional 78,686 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Lifecore Biomedical by 16.8% during the first quarter. Goldman Sachs Group Inc. now owns 87,998 shares of the company’s stock worth $620,000 after buying an additional 12,647 shares during the last quarter. Finally, Citadel Advisors LLC grew its position in shares of Lifecore Biomedical by 127.1% during the 3rd quarter. Citadel Advisors LLC now owns 66,752 shares of the company’s stock worth $491,000 after buying an additional 37,363 shares during the period. Institutional investors and hedge funds own 83.36% of the company’s stock.

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.