Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Down 24.1% in March
by Teresa Graham · The Cerbat GemLexaria Bioscience Corp. (NASDAQ:LEXX – Get Free Report) saw a large drop in short interest in March. As of March 31st, there was short interest totaling 283,017 shares, a drop of 24.1% from the March 15th total of 373,096 shares. Based on an average daily volume of 148,231 shares, the short-interest ratio is presently 1.9 days. Currently, 1.2% of the shares of the stock are short sold.
Lexaria Bioscience Trading Up 4.1%
Shares of LEXX stock opened at $1.02 on Wednesday. Lexaria Bioscience has a 1-year low of $0.46 and a 1-year high of $1.69. The stock has a market cap of $25.39 million, a price-to-earnings ratio of -2.17 and a beta of 0.48. The stock has a 50-day moving average of $0.76 and a 200-day moving average of $0.85.
Lexaria Bioscience (NASDAQ:LEXX – Get Free Report) last posted its quarterly earnings data on Monday, April 13th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Lexaria Bioscience had a negative return on equity of 232.57% and a negative net margin of 1,685.84%.The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. Sell-side analysts forecast that Lexaria Bioscience will post -0.59 earnings per share for the current year.
Analyst Ratings Changes
Several research firms recently weighed in on LEXX. HC Wainwright reduced their price objective on Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating on the stock in a research report on Friday, December 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lexaria Bioscience in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $1.50.
View Our Latest Report on LEXX
Institutional Investors Weigh In On Lexaria Bioscience
A number of institutional investors have recently modified their holdings of LEXX. Byrne Asset Management LLC increased its position in shares of Lexaria Bioscience by 236.8% during the fourth quarter. Byrne Asset Management LLC now owns 105,500 shares of the company’s stock worth $65,000 after buying an additional 74,180 shares during the period. Geode Capital Management LLC lifted its holdings in Lexaria Bioscience by 25.7% in the fourth quarter. Geode Capital Management LLC now owns 219,718 shares of the company’s stock valued at $136,000 after buying an additional 44,939 shares during the period. Finally, Virtu Financial LLC bought a new stake in Lexaria Bioscience during the third quarter valued at $28,000. 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.