Short Interest in Lexaria Bioscience Corp. (NASDAQ:LEXX) Decreases By 33.8%

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw a large decline in short interest in January. As of January 15th, there was short interest totaling 1,056,441 shares, a decline of 33.8% from the December 31st total of 1,596,738 shares. Based on an average daily volume of 306,127 shares, the days-to-cover ratio is presently 3.5 days. Currently, 4.6% of the shares of the company are short sold. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 306,127 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Lexaria Bioscience from a “hold” rating to a “sell” rating in a research note on Sunday, December 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lexaria Bioscience in a research note on Monday, December 29th. Finally, HC Wainwright reduced their price objective on shares of Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating for the company in a research note on Friday, December 26th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1.50.

Institutional Trading of Lexaria Bioscience

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC acquired 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 SEC. The firm acquired 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience at the end of the most recent quarter. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Stock Performance

NASDAQ LEXX traded up $0.03 during trading hours on Friday, reaching $0.78. The company’s stock had a trading volume of 162,919 shares, compared to its average volume of 216,324. The company’s 50-day moving average is $0.83 and its two-hundred day moving average is $0.93. Lexaria Bioscience has a fifty-two week low of $0.46 and a fifty-two week high of $1.91. The stock has a market cap of $19.50 million, a PE ratio of -1.40 and a beta of 0.63.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings results on Tuesday, January 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. Lexaria Bioscience had a negative net margin of 1,685.84% and a negative return on equity of 226.58%. The company had revenue of $0.19 million for the quarter, compared to the consensus estimate of $0.14 million. Equities analysts expect that Lexaria Bioscience will post -0.59 earnings per share for the current fiscal year.

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.