Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Up 158.3% in December

by · The Cerbat Gem

Lexaria Bioscience Corp. (NASDAQ:LEXX – Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,596,738 shares, a growth of 158.3% from the December 15th total of 618,196 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average daily volume of 2,319,034 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 2,319,034 shares, the days-to-cover ratio is currently 0.7 days. Currently, 7.0% of the shares of the company are sold short.

Institutional Trading of Lexaria Bioscience

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC acquired a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience at the end of the most recent quarter. 13.06% of the stock is currently owned by hedge funds and other institutional investors.

Lexaria Bioscience Stock Performance

NASDAQ:LEXX opened at $0.81 on Wednesday. The firm’s 50-day moving average is $0.91 and its 200-day moving average is $0.94. The company has a market cap of $20.14 million, a price-to-earnings ratio of -1.24 and a beta of 0.63. Lexaria Bioscience has a 52-week low of $0.46 and a 52-week high of $2.25.

Analyst Ratings Changes

A number of research firms have recently commented on LEXX. Wall Street Zen lowered shares of Lexaria Bioscience from a “hold” rating to a “sell” rating in a research report on Sunday, December 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Monday, December 29th. Finally, HC Wainwright cut their target price on shares of Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating for the company in a research report 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $1.50.

Get Our Latest Report on LEXX

Lexaria Bioscience Company Profile

(Get Free Report)

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.

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