Short Interest in Lexaria Bioscience Corp. (NASDAQ:LEXX) Decreases By 52.3%

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 163,565 shares, a decrease of 52.3% from the June 30th total of 343,121 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 58,395 shares, the short-interest ratio is currently 2.8 days.

Lexaria Bioscience Stock Up 3.6%

Shares of LEXX stock traded up $0.02 during trading hours on Tuesday, reaching $0.54. 45,246 shares of the company’s stock were exchanged, compared to its average volume of 152,554. Lexaria Bioscience has a fifty-two week low of $0.46 and a fifty-two week high of $1.55. The stock has a market capitalization of $13.39 million, a P/E ratio of -1.59 and a beta of 0.34. The business has a fifty day moving average price of $0.59 and a 200-day moving average price of $0.71.

Lexaria Bioscience (NASDAQ:LEXX) last posted its quarterly earnings data on Monday, July 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, research analysts expect that Lexaria Bioscience will post -0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Lexaria Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1.50.

Institutional Investors Weigh In On Lexaria Bioscience

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC acquired a new stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience as of its most recent filing with the SEC. 13.06% of the stock is owned by institutional investors.

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.