Lexaria Bioscience Corp. (NASDAQ:LEXX) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lowered its position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 475,773 shares of the company’s stock after selling 37,800 shares during the quarter. Invenomic Capital Management LP owned about 3.01% of Lexaria Bioscience worth $1,451,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LEXX. Renaissance Technologies LLC bought a new position in Lexaria Bioscience during the second quarter worth $63,000. Armistice Capital LLC bought a new position in shares of Lexaria Bioscience in the 2nd quarter worth about $2,836,000. Finally, HighTower Advisors LLC acquired a new position in shares of Lexaria Bioscience in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 13.06% of the company’s stock.

Insider Transactions at Lexaria Bioscience

In other Lexaria Bioscience news, CEO Richard Christopher purchased 22,828 shares of Lexaria Bioscience stock in a transaction on Monday, December 2nd. The stock was bought at an average price of $2.24 per share, for a total transaction of $51,134.72. Following the transaction, the chief executive officer now owns 22,828 shares of the company’s stock, valued at $51,134.72. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 26.40% of the company’s stock.

Lexaria Bioscience Price Performance

Shares of NASDAQ LEXX opened at $2.70 on Wednesday. The firm has a market capitalization of $47.12 million, a PE ratio of -5.74 and a beta of 0.99. Lexaria Bioscience Corp. has a 1-year low of $1.20 and a 1-year high of $6.85. The business’s fifty day moving average price is $2.58 and its two-hundred day moving average price is $2.97.

Analysts Set New Price Targets

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

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.