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

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw a significant decrease in short interest in January. As of January 30th, there was short interest totaling 631,202 shares, a decrease of 40.3% from the January 15th total of 1,056,441 shares. Based on an average trading volume of 139,689 shares, the short-interest ratio is currently 4.5 days. Currently, 2.8% of the shares of the company are short sold. Currently, 2.8% of the shares of the company are short sold. Based on an average trading volume of 139,689 shares, the short-interest ratio is currently 4.5 days.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LEXX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Monday, December 29th. Wall Street Zen downgraded Lexaria Bioscience from a “hold” rating to a “sell” rating in a research note on Sunday, December 7th. Finally, HC Wainwright lowered their target price on Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating on the stock in a research note on Friday, December 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lexaria Bioscience presently has a consensus rating of “Hold” and a consensus price target of $1.50.

Institutional Investors Weigh In On Lexaria Bioscience

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Lexaria Bioscience by 25.7% in the 4th quarter. Geode Capital Management LLC now owns 219,718 shares of the company’s stock valued at $136,000 after purchasing an additional 44,939 shares in the last quarter. Byrne Asset Management LLC boosted its position in Lexaria Bioscience by 236.8% during the fourth quarter. Byrne Asset Management LLC now owns 105,500 shares of the company’s stock worth $65,000 after purchasing an additional 74,180 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Lexaria Bioscience in the third quarter valued at $28,000. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Price Performance

Shares of NASDAQ LEXX traded up $0.00 during trading on Friday, hitting $0.62. 115,811 shares of the company were exchanged, compared to its average volume of 168,513. Lexaria Bioscience has a 1 year low of $0.46 and a 1 year high of $1.90. The company has a market cap of $15.49 million, a price-to-earnings ratio of -1.11 and a beta of 0.56. The firm’s fifty day moving average price is $0.76 and its 200 day moving average price is $0.91.

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 analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.14 million. Lexaria Bioscience had a negative net margin of 1,685.84% and a negative return on equity of 226.58%. On average, research analysts forecast that Lexaria Bioscience will post -0.59 earnings per share for the current year.

Lexaria Bioscience Company Profile

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.