Lexaria Bioscience (NASDAQ:LEXX) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Lexaria Bioscience (NASDAQ:LEXX) in a research report released on Monday morning,Benzinga reports. The firm currently has a $10.00 price objective on the stock.

Lexaria Bioscience Stock Performance

Shares of NASDAQ LEXX opened at $2.15 on Monday. The firm’s 50 day moving average price is $2.69 and its 200-day moving average price is $3.01. The company has a market cap of $34.01 million, a PE ratio of -4.89 and a beta of 1.02. Lexaria Bioscience has a 52-week low of $1.20 and a 52-week high of $6.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LEXX. Renaissance Technologies LLC bought a new position in shares of Lexaria Bioscience in the second quarter worth approximately $63,000. Armistice Capital LLC bought a new position in shares of Lexaria Bioscience in the second quarter worth approximately $2,836,000. HighTower Advisors LLC bought a new position in Lexaria Bioscience during the third quarter valued at approximately $40,000. XTX Topco Ltd lifted its position in Lexaria Bioscience by 47.8% during the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock valued at $57,000 after purchasing an additional 6,024 shares during the period. Finally, Geode Capital Management LLC lifted its position in Lexaria Bioscience by 31.0% during the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after purchasing an additional 35,608 shares during the period. Institutional investors own 13.06% of the company’s stock.

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.