Short Interest in Lexaria Bioscience Corp. (NASDAQ:LEXX) Decreases By 17.4%

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 610,400 shares, a decrease of 17.4% from the January 15th total of 739,000 shares. Based on an average trading volume of 184,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.8% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, HC Wainwright decreased their price target on shares of Lexaria Bioscience from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, January 24th.

Insider Transactions at Lexaria Bioscience

In related news, CEO Richard Christopher bought 22,828 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was acquired at an average price of $2.24 per share, for a total transaction of $51,134.72. Following the purchase, the chief executive officer now directly owns 22,828 shares in the company, valued at $51,134.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Lexaria Bioscience Trading Up 4.6 %

Shares of NASDAQ:LEXX opened at $1.60 on Friday. Lexaria Bioscience has a 12-month low of $1.50 and a 12-month high of $6.85. The stock has a fifty day simple moving average of $2.02 and a two-hundred day simple moving average of $2.60.

Lexaria Bioscience (NASDAQ:LEXX) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts predict that Lexaria Bioscience will post -0.59 earnings per share for the current fiscal year.

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.