Alpha Wave Global LP Invests $866,000 in Lifecore Biomedical, Inc. (NASDAQ:LFCR)

Alpha Wave Global LP acquired a new stake in Lifecore Biomedical, Inc. (NASDAQ:LFCR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 116,538 shares of the company's stock, valued at approximately $866,000. Lifecore Biomedical makes up about 0.4% of Alpha Wave Global LP's portfolio, making the stock its 17th largest position. Alpha Wave Global LP owned approximately 0.31% of Lifecore Biomedical at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LFCR. Invesco Ltd. purchased a new stake in Lifecore Biomedical during the fourth quarter valued at about $4,128,000. DCF Advisers LLC raised its stake in shares of Lifecore Biomedical by 87.2% during the 4th quarter. DCF Advisers LLC now owns 539,989 shares of the company's stock worth $4,012,000 after purchasing an additional 251,511 shares in the last quarter. 272 Capital LP increased its stake in shares of Lifecore Biomedical by 511.1% during the 3rd quarter. 272 Capital LP now owns 143,480 shares of the company's stock worth $707,000 after purchasing an additional 120,002 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lifecore Biomedical by 14.7% during the fourth quarter. Geode Capital Management LLC now owns 685,746 shares of the company's stock valued at $5,097,000 after buying an additional 88,061 shares in the last quarter. Finally, Rangeley Capital LLC acquired a new stake in Lifecore Biomedical in the 4th quarter worth approximately $325,000. Institutional investors own 83.36% of the company's stock.

Lifecore Biomedical Price Performance

NASDAQ LFCR traded up $0.12 during trading on Wednesday, reaching $6.30. 56,411 shares of the company traded hands, compared to its average volume of 228,186. The company has a debt-to-equity ratio of 9.21, a quick ratio of 1.21 and a current ratio of 2.32. The company has a market cap of $233.26 million, a price-to-earnings ratio of -11.25 and a beta of 0.80. Lifecore Biomedical, Inc. has a 1-year low of $3.68 and a 1-year high of $7.99. The stock's 50 day moving average price is $6.18 and its two-hundred day moving average price is $6.34.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last posted its earnings results on Thursday, April 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The firm had revenue of $35.15 million during the quarter, compared to the consensus estimate of $33.23 million. Lifecore Biomedical had a negative net margin of 12.52% and a negative return on equity of 315.23%. As a group, analysts anticipate that Lifecore Biomedical, Inc. will post -0.91 EPS for the current year.

Analyst Ratings Changes

Separately, Stephens reaffirmed an "equal weight" rating and issued a $6.00 price target on shares of Lifecore Biomedical in a report on Friday, January 3rd.

Lifecore Biomedical Company Profile

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.