Shares of Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report) dropped 2.5% during mid-day trading on Friday . The company traded as low as $7.48 and last traded at $7.49. Approximately 118,062 shares changed hands during trading, a decline of 48% from the average daily volume of 228,884 shares. The stock had previously closed at $7.68.
Analyst Ratings Changes
Separately, William Blair began coverage on Lifecore Biomedical in a report on Wednesday, May 21st. They issued an "outperform" rating for the company.
Get Our Latest Stock Report on Lifecore Biomedical
Lifecore Biomedical Trading Down 2.5%
The firm has a market capitalization of $277.35 million, a price-to-earnings ratio of -5.17 and a beta of 0.71. The company has a debt-to-equity ratio of 66.36, a current ratio of 2.71 and a quick ratio of 1.59. The firm's 50-day simple moving average is $7.29 and its 200 day simple moving average is $6.62.
Insider Buying and Selling at Lifecore Biomedical
In related news, major shareholder Aron R. English sold 150,419 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $7.12, for a total value of $1,070,983.28. Following the sale, the insider owned 264,180 shares of the company's stock, valued at $1,880,961.60. The trade was a 36.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 1,485,182 shares of company stock worth $9,824,031 over the last quarter. Insiders own 32.20% of the company's stock.
Institutional Trading of Lifecore Biomedical
A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Lifecore Biomedical by 1,839.7% in the 1st quarter. GAMMA Investing LLC now owns 3,569 shares of the company's stock worth $25,000 after acquiring an additional 3,385 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Lifecore Biomedical during the 1st quarter worth approximately $26,000. Hurley Capital LLC purchased a new stake in shares of Lifecore Biomedical during the 1st quarter worth approximately $35,000. Prudential Financial Inc. purchased a new stake in shares of Lifecore Biomedical during the 4th quarter worth approximately $95,000. Finally, Wells Fargo & Company MN increased its stake in shares of Lifecore Biomedical by 29.0% during the 4th quarter. Wells Fargo & Company MN now owns 13,381 shares of the company's stock worth $99,000 after purchasing an additional 3,012 shares during the last quarter. Institutional investors own 83.36% of the company's stock.
About Lifecore Biomedical
(
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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.
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