Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Update

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 243,976 shares, a growth of 49.2% from the July 15th total of 163,565 shares. Based on an average daily trading volume, of 174,495 shares, the short-interest ratio is presently 1.4 days. Approximately 16.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Lexaria Bioscience

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC bought a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.13% of Lexaria Bioscience as of its most recent SEC filing. 13.06% of the stock is owned by hedge funds and other institutional investors.

Lexaria Bioscience Price Performance

Shares of LEXX traded up $1.09 during mid-day trading on Tuesday, hitting $11.41. The stock had a trading volume of 14,808 shares, compared to its average volume of 12,480. Lexaria Bioscience has a 52 week low of $4.21 and a 52 week high of $23.25. The business has a fifty day moving average price of $8.09 and a 200-day moving average price of $10.07. The firm has a market cap of $18.86 million, a P/E ratio of -2.24 and a beta of 0.38.

Lexaria Bioscience (NASDAQ:LEXX) last posted its quarterly earnings results on Monday, July 13th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, research analysts expect that Lexaria Bioscience will post -4.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.50.

About Lexaria Bioscience

Lexaria Bioscience Corp. (NASDAQ: LEXX) is a biotech company specializing in the development and commercialization of proprietary drug delivery platforms. The company’s flagship technology, DehydraTECH, is designed to improve the oral bioavailability, onset time and overall efficiency of active molecules such as cannabinoids, nicotine and other lipophilic compounds. Lexaria’s platform seeks to address absorption challenges commonly associated with oral delivery by enhancing the rate and extent at which compounds enter the bloodstream.

Founded in 2014 and headquartered in Kelowna, British Columbia, Lexaria operates in the pharmaceutical, nutraceutical and consumer product markets.