Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Down 88.6% in August

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 27,867 shares, a decline of 88.6% from the July 30th total of 243,976 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 38,348 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Lexaria Bioscience

An institutional investor recently bought a new stake in Lexaria Bioscience stock. Virtu Financial LLC purchased a new stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) in the 3rd quarter, according to 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 at the end of the most recent quarter. 13.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.50.

Lexaria Bioscience Trading Up 10.1%

Shares of LEXX traded up $1.06 during mid-day trading on Tuesday, reaching $11.60. The company had a trading volume of 12,330 shares, compared to its average volume of 13,661. Lexaria Bioscience has a fifty-two week low of $4.21 and a fifty-two week high of $23.25. The stock has a market cap of $19.14 million, a price-to-earnings ratio of -2.28 and a beta of 0.38. The firm has a fifty day simple moving average of $8.25 and a 200-day simple moving average of $10.05.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings results on Monday, July 13th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, equities analysts predict that Lexaria Bioscience will post -4.05 EPS for the current fiscal year.

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.