Geode Capital Management LLC Increases Position in Lexaria Bioscience Corp. (NASDAQ:LEXX)

Geode Capital Management LLC increased its stake in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) by 31.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,391 shares of the company’s stock after purchasing an additional 35,608 shares during the quarter. Geode Capital Management LLC owned approximately 0.95% of Lexaria Bioscience worth $459,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. XTX Topco Ltd raised its holdings in Lexaria Bioscience by 47.8% in the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after purchasing an additional 6,024 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Lexaria Bioscience during the 3rd quarter worth approximately $40,000. Renaissance Technologies LLC purchased a new stake in Lexaria Bioscience during the second quarter valued at approximately $63,000. Finally, Armistice Capital LLC acquired a new stake in Lexaria Bioscience in the second quarter valued at approximately $2,836,000. Institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Stock Performance

Shares of NASDAQ LEXX opened at $2.16 on Monday. Lexaria Bioscience Corp. has a fifty-two week low of $1.36 and a fifty-two week high of $6.85. The company has a market cap of $37.70 million, a PE ratio of -4.60 and a beta of 0.98. The business has a 50-day simple moving average of $2.23 and a two-hundred day simple moving average of $2.78.

Lexaria Bioscience (NASDAQ:LEXX) last released its earnings results on Friday, January 10th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Lexaria Bioscience had a negative return on equity of 86.10% and a negative net margin of 1,249.14%. On average, sell-side analysts predict that Lexaria Bioscience Corp. will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Lexaria Bioscience

In other Lexaria Bioscience news, CEO Richard Christopher purchased 22,828 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average price of $2.24 per share, for a total transaction of $51,134.72. Following the acquisition, the chief executive officer now owns 22,828 shares in the company, valued at $51,134.72. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Lexaria Bioscience in a research report on Monday, December 2nd.

Lexaria Bioscience Profile

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which combines lipophilic molecules or active pharmaceutical ingredients with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods.