Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Down 40.3% in January

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 631,202 shares, a decline 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. Approximately 2.8% of the company’s stock are short sold. Approximately 2.8% of the company’s stock are short sold. Based on an average trading volume of 139,689 shares, the short-interest ratio is currently 4.5 days.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Lexaria Bioscience

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in Lexaria Bioscience by 25.7% during the fourth quarter. Geode Capital Management LLC now owns 219,718 shares of the company’s stock valued at $136,000 after acquiring an additional 44,939 shares during the last quarter. Byrne Asset Management LLC boosted its position in Lexaria Bioscience by 236.8% in 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 during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Lexaria Bioscience during the 3rd quarter valued at about $28,000. 13.06% of the stock is currently owned by hedge funds and other institutional investors.

Lexaria Bioscience Price Performance

NASDAQ LEXX traded up $0.00 during trading hours on Friday, hitting $0.62. The company’s stock had a trading volume of 115,811 shares, compared to its average volume of 170,460. Lexaria Bioscience has a 12 month low of $0.46 and a 12 month high of $1.90. The company’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $0.91. The company has a market cap of $15.49 million, a P/E ratio of -1.11 and a beta of 0.56.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings results on Tuesday, January 13th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The firm had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.14 million. Lexaria Bioscience had a negative net margin of 1,685.84% and a negative return on equity of 226.58%. As a group, 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. (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.