Lexaria Bioscience Corp. (NASDAQ:LEXX) Sees Significant Increase in Short Interest

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 342,400 shares, an increase of 23.6% from the October 31st total of 277,100 shares. Based on an average daily trading volume, of 142,400 shares, the short-interest ratio is presently 2.4 days. Currently, 2.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Lexaria Bioscience in a research report on Monday.

Institutional Trading of Lexaria Bioscience

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armistice Capital LLC bought a new position in Lexaria Bioscience during the second quarter valued at about $2,836,000. Geode Capital Management LLC grew its position in Lexaria Bioscience by 31.0% during the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after buying an additional 35,608 shares during the period. Renaissance Technologies LLC purchased a new stake in Lexaria Bioscience during the second quarter valued at about $63,000. HighTower Advisors LLC purchased a new stake in shares of Lexaria Bioscience in the third quarter worth about $40,000. Finally, XTX Topco Ltd lifted its holdings in shares of Lexaria Bioscience by 47.8% in the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after buying an additional 6,024 shares in the last quarter. Institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Price Performance

Shares of Lexaria Bioscience stock traded up $0.10 during trading on Monday, reaching $2.18. 104,892 shares of the company traded hands, compared to its average volume of 262,144. The firm has a market capitalization of $38.05 million, a PE ratio of -4.72 and a beta of 1.02. The company has a 50 day moving average price of $2.60 and a 200-day moving average price of $2.98. Lexaria Bioscience has a 1-year low of $1.20 and a 1-year high of $6.85.

About Lexaria Bioscience

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.