Byrne Asset Management LLC Increases Holdings in Lexaria Bioscience Corp. (NASDAQ:LEXX)

Byrne Asset Management LLC raised its stake in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) by 122.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 28,905 shares of the company’s stock after buying an additional 15,905 shares during the quarter. Byrne Asset Management LLC’s holdings in Lexaria Bioscience were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in shares of Lexaria Bioscience by 61.4% in the 4th quarter. HighTower Advisors LLC now owns 21,023 shares of the company’s stock worth $44,000 after purchasing an additional 8,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lexaria Bioscience by 108.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,873 shares of the company’s stock worth $61,000 after purchasing an additional 15,050 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Lexaria Bioscience in the 4th quarter worth $127,000. Finally, Geode Capital Management LLC increased its stake in shares of Lexaria Bioscience by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 166,679 shares of the company’s stock worth $350,000 after purchasing an additional 16,288 shares in the last quarter. 13.06% of the stock is currently owned by hedge funds and other institutional investors.

Lexaria Bioscience Price Performance

NASDAQ:LEXX opened at $0.98 on Friday. The firm has a market capitalization of $17.15 million, a price-to-earnings ratio of -1.95 and a beta of 0.84. Lexaria Bioscience Corp. has a one year low of $0.92 and a one year high of $4.38. The business has a fifty day moving average price of $1.16 and a 200-day moving average price of $1.61.

Lexaria Bioscience (NASDAQ:LEXX) last posted its quarterly earnings data on Monday, April 14th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. Lexaria Bioscience had a negative return on equity of 88.88% and a negative net margin of 1,473.04%. On average, equities research analysts expect that Lexaria Bioscience Corp. will post -0.59 earnings per share for the current fiscal year.

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.