Lifecore Biomedical, Inc. (NASDAQ:LFCR) Major Shareholder Aron R. English Sells 150,419 Shares

Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report) major shareholder Aron R. English sold 150,419 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $7.12, for a total value of $1,070,983.28. Following the transaction, the insider now owns 264,180 shares of the company's stock, valued at $1,880,961.60. This trade represents a 36.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Lifecore Biomedical Price Performance

Shares of LFCR traded up $0.10 during midday trading on Monday, reaching $6.87. The stock had a trading volume of 177,751 shares, compared to its average volume of 241,249. Lifecore Biomedical, Inc. has a 52 week low of $3.68 and a 52 week high of $7.99. The company has a debt-to-equity ratio of 9.21, a current ratio of 2.32 and a quick ratio of 1.21. The firm's 50 day moving average price is $6.52 and its 200-day moving average price is $6.57. The company has a market capitalization of $254.36 million, a P/E ratio of -12.27 and a beta of 0.65.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last announced 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). Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. The company had revenue of $35.15 million for the quarter, compared to analyst estimates of $33.23 million. On average, analysts forecast that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legion Partners Asset Management LLC grew its holdings in shares of Lifecore Biomedical by 49.3% during the fourth quarter. Legion Partners Asset Management LLC now owns 4,431,823 shares of the company's stock valued at $32,928,000 after buying an additional 1,463,414 shares in the last quarter. Greenhaven Road Investment Management L.P. grew its stake in Lifecore Biomedical by 62.2% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 3,616,146 shares of the company's stock valued at $26,868,000 after purchasing an additional 1,387,362 shares in the last quarter. 325 Capital LLC grew its stake in Lifecore Biomedical by 57.9% in the fourth quarter. 325 Capital LLC now owns 2,162,466 shares of the company's stock valued at $16,067,000 after purchasing an additional 792,681 shares in the last quarter. Geode Capital Management LLC grew its stake in Lifecore Biomedical by 14.7% in the fourth quarter. Geode Capital Management LLC now owns 685,746 shares of the company's stock valued at $5,097,000 after purchasing an additional 88,061 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in Lifecore Biomedical in the fourth quarter valued at about $4,128,000. Hedge funds and other institutional investors own 83.36% of the company's stock.

Analysts Set New Price Targets

Separately, William Blair assumed coverage on Lifecore Biomedical in a research note on Wednesday, May 21st. They issued an "outperform" rating on the stock.

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.