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

272 Capital LP boosted its holdings in Lifecore Biomedical, Inc. (NASDAQ:LFCR) by 511.1% during the 3rd quarter, according to the company in its most recent disclosure 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 about 0.39% of Lifecore Biomedical worth $707,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allegheny Financial Group LTD purchased a new position in Lifecore Biomedical in the second quarter valued at about $52,000. Renaissance Technologies LLC bought a new stake in shares of Lifecore Biomedical in the 2nd quarter worth approximately $56,000. Creative Planning purchased a new position in Lifecore Biomedical in the third quarter valued at approximately $69,000. Public Employees Retirement System of Ohio bought a new position in Lifecore Biomedical during the third quarter valued at $119,000. Finally, Rhumbline Advisers increased its position in Lifecore Biomedical by 1,668.5% in the second 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.

Wall Street Analyst Weigh In

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

Lifecore Biomedical Price Performance

Shares of NASDAQ:LFCR opened at $7.50 on Friday. Lifecore Biomedical, Inc. has a 12 month low of $3.68 and a 12 month high of $8.90. The company has a current ratio of 1.83, a quick ratio of 0.80 and a debt-to-equity ratio of 12.90. The stock has a market cap of $276.23 million, a P/E ratio of 94.75 and a beta of 0.99. The company has a 50 day moving average of $6.27 and a 200 day moving average of $5.60.

Lifecore Biomedical (NASDAQ:LFCR) last released its quarterly earnings results on Friday, October 4th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $24.71 million during the quarter, compared to the consensus estimate of $23.30 million. As a group, sell-side analysts forecast that Lifecore Biomedical, Inc. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Wynnefield Partners Small Cap purchased 122,930 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average price of $4.10 per share, with a total value of $504,013.00. Following the acquisition, the insider now directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 28.21% of the company’s stock.

Lifecore Biomedical 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.