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

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw 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. Approximately 2.1% of the company’s shares are sold short. Based on an average daily volume of 142,400 shares, the short-interest ratio is presently 2.4 days.

Hedge Funds Weigh In On Lexaria Bioscience

Several hedge funds have recently made changes to their positions in LEXX. Renaissance Technologies LLC purchased a new position in shares of Lexaria Bioscience during the second quarter worth about $63,000. Armistice Capital LLC purchased a new position in shares of Lexaria Bioscience during the second quarter worth about $2,836,000. HighTower Advisors LLC purchased a new position in shares of Lexaria Bioscience during the third quarter worth about $40,000. XTX Topco Ltd grew its holdings in shares of Lexaria Bioscience by 47.8% during the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after purchasing an additional 6,024 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Lexaria Bioscience by 31.0% during the third 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 during the last quarter. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Wall Street Analyst Weigh In

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

Lexaria Bioscience Trading Up 7.7 %

NASDAQ:LEXX traded up $0.16 during trading hours on Monday, hitting $2.24. The company’s stock had a trading volume of 93,526 shares, compared to its average volume of 262,028. The stock has a market capitalization of $39.09 million, a P/E ratio of -4.72 and a beta of 1.02. The stock has a fifty day moving average of $2.60 and a 200-day moving average of $2.98. Lexaria Bioscience has a 52-week low of $1.20 and a 52-week high of $6.85.

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.