Lexaria Bioscience Corp. (NASDAQ:LEXX) CEO Richard Christopher Acquires 22,828 Shares

Lexaria Bioscience Corp. (NASDAQ:LEXX) CEO Richard Christopher bought 22,828 shares of Lexaria Bioscience stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of $2.24 per share, with a total value of $51,134.72. Following the completion of the purchase, the chief executive officer now directly owns 22,828 shares in the company, valued at $51,134.72. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Lexaria Bioscience Trading Down 4.1 %

Shares of NASDAQ:LEXX opened at $2.59 on Thursday. The company has a 50 day moving average of $2.57 and a 200-day moving average of $2.97. The firm has a market cap of $45.20 million, a P/E ratio of -5.74 and a beta of 0.99. Lexaria Bioscience Corp. has a twelve month low of $1.20 and a twelve month high of $6.85.

Institutional Trading of Lexaria Bioscience

A number of institutional investors have recently made changes to their positions in LEXX. Renaissance Technologies LLC acquired a new stake in shares of Lexaria Bioscience in the 2nd quarter worth approximately $63,000. Armistice Capital LLC bought a new stake in shares of Lexaria Bioscience in the 2nd quarter worth approximately $2,836,000. HighTower Advisors LLC bought a new stake in shares of Lexaria Bioscience in the 3rd quarter worth approximately $40,000. XTX Topco Ltd raised its holdings in shares of 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 purchasing an additional 6,024 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 35,608 shares in the last quarter. 13.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.