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

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 342,400 shares, an increase of 23.6% from the October 31st total of 277,100 shares. Based on an average daily trading volume, of 142,400 shares, the short-interest ratio is currently 2.4 days. Currently, 2.1% of the shares of the stock are sold short.

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.

Institutional Investors Weigh In On Lexaria Bioscience

A number of large investors have recently made changes to their positions in LEXX. Renaissance Technologies LLC purchased a new stake in shares of Lexaria Bioscience in the second quarter valued at approximately $63,000. Armistice Capital LLC acquired a new position in Lexaria Bioscience in the second quarter valued at approximately $2,836,000. HighTower Advisors LLC acquired a new position in Lexaria Bioscience in the third quarter valued at approximately $40,000. XTX Topco Ltd lifted its holdings in Lexaria Bioscience by 47.8% in the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock valued at $57,000 after acquiring an additional 6,024 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Lexaria Bioscience by 31.0% in the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after acquiring an additional 35,608 shares during the last quarter. 13.06% of the stock is currently owned by hedge funds and other institutional investors.

Lexaria Bioscience Stock Performance

Shares of LEXX stock traded up $0.16 during trading hours on Monday, reaching $2.24. The company had a trading volume of 93,526 shares, compared to its average volume of 262,028. The stock has a fifty day moving average of $2.60 and a 200-day moving average of $2.98. The company has a market capitalization of $39.09 million, a price-to-earnings ratio of -4.72 and a beta of 1.02. Lexaria Bioscience has a 12-month low of $1.20 and a 12-month 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.