Short Interest in Lexaria Bioscience Corp. (NASDAQ:LEXX) Increases By 158.3%

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,596,738 shares, an increase of 158.3% from the December 15th total of 618,196 shares. Approximately 7.0% of the company’s stock are sold short. Based on an average daily trading volume, of 2,319,034 shares, the short-interest ratio is presently 0.7 days. Based on an average daily trading volume, of 2,319,034 shares, the short-interest ratio is presently 0.7 days. Approximately 7.0% of the company’s stock are sold short.

Lexaria Bioscience Stock Up 5.1%

LEXX stock opened at $0.81 on Wednesday. The firm has a 50 day moving average of $0.91 and a two-hundred day moving average of $0.94. Lexaria Bioscience has a 12 month low of $0.46 and a 12 month high of $2.25. The company has a market capitalization of $20.14 million, a price-to-earnings ratio of -1.24 and a beta of 0.63.

Hedge Funds Weigh In On Lexaria Bioscience

A hedge fund recently bought a new stake in Lexaria Bioscience stock. Virtu Financial LLC purchased a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience as of its most recent filing with the SEC. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LEXX shares. HC Wainwright reduced their price objective on Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating for the company in a research note on Friday, December 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Lexaria Bioscience from a “hold” rating to a “sell” rating in a research note on Sunday, December 7th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.50.

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.