272 Capital LP Buys 120,002 Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR)

272 Capital LP raised its holdings in shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR - Free Report) by 511.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,480 shares of the company's stock after purchasing an additional 120,002 shares during the period. 272 Capital LP owned approximately 0.39% of Lifecore Biomedical worth $707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allegheny Financial Group LTD purchased a new position in shares of Lifecore Biomedical during the second quarter valued at approximately $52,000. Renaissance Technologies LLC bought a new stake in Lifecore Biomedical in the 2nd quarter worth approximately $56,000. Creative Planning purchased a new stake in Lifecore Biomedical during the 3rd quarter valued at $69,000. Public Employees Retirement System of Ohio bought a new position in shares of Lifecore Biomedical during the 3rd quarter valued at $119,000. Finally, Rhumbline Advisers boosted its stake in shares of Lifecore Biomedical by 1,668.5% in the 2nd quarter. Rhumbline Advisers now owns 26,899 shares of the company's stock worth $138,000 after buying an additional 25,378 shares during the last quarter. Institutional investors own 83.36% of the company's stock.

Insider Transactions at Lifecore Biomedical

In other news, major shareholder Wynnefield Partners Small Cap bought 122,930 shares of the company's stock in a transaction that occurred on Thursday, October 3rd. The stock was bought at an average price of $4.10 per share, with a total value of $504,013.00. Following the acquisition, the insider now owns 2,095,783 shares of the company's stock, valued at approximately $8,592,710.30. This represents a 6.23 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 28.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Craig Hallum upped their price objective on Lifecore Biomedical from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Barrington Research lowered shares of Lifecore Biomedical from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 28th.

Lifecore Biomedical Stock Performance

LFCR traded up $0.03 during trading on Friday, hitting $7.61. The company's stock had a trading volume of 141,778 shares, compared to its average volume of 209,705. The business's 50 day simple moving average is $6.27 and its 200-day simple moving average is $5.60. The firm has a market cap of $280.28 million, a PE ratio of 93.75 and a beta of 0.99. Lifecore Biomedical, Inc. has a one year low of $3.68 and a one year high of $8.90. The company has a quick ratio of 0.80, a current ratio of 1.83 and a debt-to-equity ratio of 12.90.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last announced its earnings results on Friday, October 4th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.07). Lifecore Biomedical had a negative return on equity of 382.65% and a net margin of 5.09%. The company had revenue of $24.71 million during the quarter, compared to the consensus estimate of $23.30 million. As a group, sell-side analysts predict that Lifecore Biomedical, Inc. will post -0.99 EPS for the current fiscal year.

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.