Lexaria Bioscience Corp. (NASDAQ:LEXX) Sees Significant Decline in Short Interest

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 610,400 shares, a decline of 17.4% from the January 15th total of 739,000 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average trading volume of 184,000 shares, the short-interest ratio is currently 3.3 days.

Insider Activity

In related news, CEO Richard Christopher bought 22,828 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was acquired at an average cost of $2.24 per share, with a total value of $51,134.72. Following the acquisition, the chief executive officer now owns 22,828 shares in the company, valued at approximately $51,134.72. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Lexaria Bioscience by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 166,679 shares of the company’s stock valued at $350,000 after acquiring an additional 16,288 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lexaria Bioscience in the fourth quarter valued at approximately $127,000. HighTower Advisors LLC raised its position in Lexaria Bioscience by 61.4% in the 4th quarter. HighTower Advisors LLC now owns 21,023 shares of the company’s stock worth $44,000 after purchasing an additional 8,000 shares during the last quarter. XTX Topco Ltd lifted its holdings in Lexaria Bioscience by 47.8% during the 3rd quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after buying an additional 6,024 shares in the last quarter. Finally, Byrne Asset Management LLC boosted its position in Lexaria Bioscience by 132.1% in the 4th quarter. Byrne Asset Management LLC now owns 13,000 shares of the company’s stock valued at $27,000 after buying an additional 7,400 shares during the last quarter. Institutional investors and hedge funds own 13.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright dropped their price objective on Lexaria Bioscience from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, January 24th.

Lexaria Bioscience Trading Up 4.6 %

Shares of Lexaria Bioscience stock opened at $1.60 on Monday. The stock has a market capitalization of $28.08 million, a price-to-earnings ratio of -3.20 and a beta of 0.96. The firm’s 50-day moving average price is $2.02 and its two-hundred day moving average price is $2.58. Lexaria Bioscience has a 1-year low of $1.50 and a 1-year high of $6.85.

Lexaria Bioscience (NASDAQ:LEXX) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Lexaria Bioscience had a negative net margin of 1,473.04% and a negative return on equity of 88.88%. As a group, equities research analysts predict that Lexaria Bioscience will post -0.59 EPS for the current year.

About Lexaria Bioscience

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.