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

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 342,400 shares, a growth of 23.6% from the October 31st total of 277,100 shares. Based on an average daily volume of 142,400 shares, the short-interest ratio is currently 2.4 days. Currently, 2.1% of the company’s shares are sold short.

Lexaria Bioscience Stock Performance

Lexaria Bioscience stock traded up $0.10 during mid-day trading on Monday, reaching $2.18. The company’s stock had a trading volume of 104,892 shares, compared to its average volume of 262,144. The company has a market capitalization of $38.05 million, a price-to-earnings ratio of -4.72 and a beta of 1.02. Lexaria Bioscience has a 12 month low of $1.20 and a 12 month high of $6.85. The business’s 50 day simple moving average is $2.60 and its 200 day simple moving average is $2.98.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Lexaria Bioscience in a research report on Monday.

Institutional Trading of Lexaria Bioscience

A number of hedge funds have recently modified their holdings of LEXX. HighTower Advisors LLC acquired a new stake in Lexaria Bioscience in the 3rd quarter worth about $40,000. XTX Topco Ltd grew its holdings in shares of Lexaria Bioscience by 47.8% during the 3rd 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 last quarter. Renaissance Technologies LLC bought a new stake in shares of Lexaria Bioscience during the 2nd quarter valued at approximately $63,000. Geode Capital Management LLC grew its holdings in shares of Lexaria Bioscience by 31.0% during the 3rd 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 last quarter. Finally, Armistice Capital LLC acquired a new stake in Lexaria Bioscience during the 2nd quarter worth approximately $2,836,000. Institutional investors and hedge funds own 13.06% of the company’s stock.

Lexaria Bioscience Company 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.