Short Interest in Lexaria Bioscience Corp. (NASDAQ:LEXX) Rises By 23.6%

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

Lexaria Bioscience Stock Performance

Shares of Lexaria Bioscience stock traded up $0.10 on Monday, reaching $2.18. 130,155 shares of the company were exchanged, compared to its average volume of 262,255. The company’s 50-day moving average is $2.60 and its two-hundred day moving average is $2.98. The firm has a market cap of $38.05 million, a price-to-earnings ratio of -4.72 and a beta of 1.02. Lexaria Bioscience has a 1-year low of $1.20 and a 1-year high of $6.85.

Institutional Trading of Lexaria Bioscience

A number of institutional investors and hedge funds have recently made changes to their positions in LEXX. XTX Topco Ltd grew its holdings in Lexaria Bioscience by 47.8% in the 3rd 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. HighTower Advisors LLC bought a new position in Lexaria Bioscience in the 3rd quarter worth approximately $40,000. Renaissance Technologies LLC bought a new position in Lexaria Bioscience in the 2nd quarter worth approximately $63,000. Geode Capital Management LLC grew its holdings in Lexaria Bioscience by 31.0% in the 3rd quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock worth $459,000 after buying an additional 35,608 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in Lexaria Bioscience in the 2nd quarter worth approximately $2,836,000. 13.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Lexaria Bioscience in a research note on Monday.

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.