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

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 243,976 shares, a growth of 49.2% from the July 15th total of 163,565 shares. Currently, 16.1% of the company’s stock are sold short. Based on an average trading volume of 174,495 shares, the days-to-cover ratio is presently 1.4 days.

Lexaria Bioscience Stock Performance

Shares of Lexaria Bioscience stock traded up $1.09 during mid-day trading on Tuesday, hitting $11.41. 14,808 shares of the stock were exchanged, compared to its average volume of 12,480. Lexaria Bioscience has a 12 month low of $4.21 and a 12 month high of $23.25. The company has a 50-day simple moving average of $8.09 and a 200 day simple moving average of $10.07. The company has a market capitalization of $18.86 million, a P/E ratio of -2.24 and a beta of 0.38.

Lexaria Bioscience (NASDAQ:LEXX) last released its earnings results 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). Analysts predict that Lexaria Bioscience will post -4.05 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lexaria Bioscience stock. Geode Capital Management LLC lifted its holdings in shares of 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 firm 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 at the end of the most recent reporting period. 13.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.50.

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.