Lexaria Bioscience Corp. (NASDAQ:LEXX) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP trimmed its position in Lexaria Bioscience Corp. (NASDAQ:LEXX) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 475,773 shares of the company’s stock after selling 37,800 shares during the period. Invenomic Capital Management LP’s holdings in Lexaria Bioscience were worth $1,451,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LEXX. HighTower Advisors LLC bought a new stake in shares of Lexaria Bioscience in the 3rd quarter worth $40,000. Armistice Capital LLC acquired a new position in Lexaria Bioscience during the second quarter worth about $2,836,000. Finally, Renaissance Technologies LLC bought a new stake in Lexaria Bioscience in the second quarter worth about $63,000. 13.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard Christopher acquired 22,828 shares of Lexaria Bioscience stock in a transaction on Monday, December 2nd. The stock was bought at an average cost of $2.24 per share, with a total value of $51,134.72. Following the completion of the purchase, the chief executive officer now owns 22,828 shares of the company’s stock, valued at $51,134.72. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.40% of the stock is currently owned by company insiders.

Lexaria Bioscience Stock Performance

NASDAQ LEXX opened at $2.70 on Wednesday. The stock has a market capitalization of $47.12 million, a P/E ratio of -5.74 and a beta of 0.99. The business’s fifty day moving average is $2.58 and its two-hundred day moving average is $2.97. Lexaria Bioscience Corp. has a 1 year low of $1.20 and a 1 year high of $6.85.

Wall Street Analyst Weigh In

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

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.