Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Update

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient 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. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 58,395 shares, the days-to-cover ratio is presently 2.8 days.

Lexaria Bioscience Stock Down 1.9%

NASDAQ:LEXX traded down $0.01 on Wednesday, reaching $0.53. 75,292 shares of the company’s stock were exchanged, compared to its average volume of 152,014. The firm has a market capitalization of $13.14 million, a price-to-earnings ratio of -1.56 and a beta of 0.34. Lexaria Bioscience has a 52-week low of $0.46 and a 52-week high of $1.55. The business has a fifty day moving average of $0.59 and a 200-day moving average of $0.70.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lexaria Bioscience stock. Geode Capital Management LLC raised its stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) by 25.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,718 shares of the company’s stock after purchasing an additional 44,939 shares during the period. Geode Capital Management LLC owned about 0.88% of Lexaria Bioscience worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 13.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lexaria Bioscience presently has a consensus rating of “Hold” and an average price target of $1.50.

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.