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

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 243,976 shares, an increase of 49.2% from the July 15th total of 163,565 shares. Based on an average daily volume of 174,495 shares, the days-to-cover ratio is presently 1.4 days. Approximately 16.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.50.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC acquired a new stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.13% of Lexaria Bioscience as of its most recent filing with the SEC. Institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Stock Down 0.1%

Shares of LEXX stock opened at $11.51 on Thursday. The firm has a market cap of $18.99 million, a P/E ratio of -2.26 and a beta of 0.38. The company has a 50 day moving average of $8.15 and a 200-day moving average of $10.07. Lexaria Bioscience has a 12-month low of $4.21 and a 12-month high of $23.25.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings data on Monday, July 13th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, equities analysts expect that Lexaria Bioscience will post -4.05 EPS for the current year.

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.