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

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 275,700 shares, a drop of 11.4% from the September 30th total of 311,100 shares. Based on an average daily trading volume, of 166,900 shares, the short-interest ratio is presently 1.7 days. Approximately 1.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Lexaria Bioscience in a research note on Thursday, July 18th.

Lexaria Bioscience Trading Down 5.3 %

LEXX traded down $0.12 on Thursday, reaching $2.15. The company had a trading volume of 204,421 shares, compared to its average volume of 273,625. The company has a fifty day moving average of $3.10 and a 200-day moving average of $3.07. The company has a market capitalization of $34.01 million, a P/E ratio of -5.11 and a beta of 0.97. Lexaria Bioscience has a one year low of $1.20 and a one year high of $6.85.

Institutional Investors Weigh In On Lexaria Bioscience

A hedge fund recently bought a new stake in Lexaria Bioscience stock. Renaissance Technologies LLC purchased a new stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,800 shares of the company’s stock, valued at approximately $63,000. Renaissance Technologies LLC owned 0.18% of Lexaria Bioscience at the end of the most recent reporting period. 13.06% of the stock is currently owned by institutional investors.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which combines lipophilic molecules or active pharmaceutical ingredients with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods.