Lexaria Bioscience (NASDAQ:LEXX) Trading Down 12% – Should You Sell?

Shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) dropped 12% on Monday . The stock traded as low as $0.6950 and last traded at $0.7295. Approximately 221,852 shares were traded during mid-day trading, an increase of 65% from the average daily volume of 134,108 shares. The stock had previously closed at $0.8288.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LEXX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lexaria Bioscience in a report on Monday, December 29th. HC Wainwright decreased their target price on Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating for the company in a research report on Friday, December 26th. Finally, Wall Street Zen cut shares of Lexaria Bioscience from a “hold” rating to a “sell” rating in a research note on Sunday, December 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lexaria Bioscience currently has an average rating of “Hold” and an average price target of $1.50.

Lexaria Bioscience Stock Down 2.2%

The firm has a market capitalization of $17.72 million, a PE ratio of -1.27 and a beta of 0.54. The stock’s fifty day simple moving average is $0.72 and its 200 day simple moving average is $0.90.

Lexaria Bioscience (NASDAQ:LEXX) last issued its quarterly earnings results on Tuesday, January 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. Lexaria Bioscience had a negative net margin of 1,685.84% and a negative return on equity of 226.58%. The business had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $0.14 million. On average, analysts predict that Lexaria Bioscience Corp. will post -0.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of Lexaria Bioscience during the 3rd quarter valued at approximately $28,000. Byrne Asset Management LLC raised its stake in Lexaria Bioscience by 236.8% during the 4th quarter. Byrne Asset Management LLC now owns 105,500 shares of the company’s stock worth $65,000 after acquiring an additional 74,180 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Lexaria Bioscience by 25.7% during the fourth quarter. Geode Capital Management LLC now owns 219,718 shares of the company’s stock valued at $136,000 after purchasing an additional 44,939 shares in the last quarter. Institutional investors own 13.06% of the company’s stock.

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.