Insider Trade Spotlight: Landec (LNDC)
Landec (LNDC) with a number of smaller insider buys recently in the month of April including the CEO, CFO, and other SVPs adding to their stakes. There were five different people buying stock between $10.60 and $11 on 4/12 to 4/20. LNDC has been mixed in 2021 with shares up 7.35% and near a breakout of a monthly base above $12. A move higher targets $16. The $331.8M company designs and sells health and wellness products under their Curation Foods umbrella including Eat Smart brand, O branded oils and vinegars, and various private labels. The business has been expanding recently from two brands to five with a focus on plant-based products and looking to gain shelf space and market share in 2021. LNDC also has a biomedical business called Lifecore that is a leading CDMO (contract development and manufacturing company) and works with large pharmaceuticals to manufacture products that are “difficult to formulate, filter, and/or fill.” LNDC sees tailwinds for the business from drug development growth, a higher propensity to outsource manufacturing, and demand for CDMO vial and syringe capacity. Analysts have an average target for shares of $13.