Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Up 49.2% in July

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 243,976 shares, a growth of 49.2% from the July 15th total of 163,565 shares. Currently, 16.1% of the company’s stock are sold short. Based on an average trading volume of 174,495 shares, the short-interest ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research note 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.50.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Lexaria Bioscience stock. Geode Capital Management LLC increased its position in Lexaria Bioscience Corp. (NASDAQ:LEXX) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 219,718 shares of the company’s stock after purchasing an additional 44,939 shares during the quarter. Geode Capital Management LLC owned approximately 0.88% of Lexaria Bioscience worth $136,000 as of its most recent SEC filing. 13.06% of the stock is currently owned by hedge funds and other institutional investors.

Lexaria Bioscience Price Performance

LEXX stock traded down $0.30 during mid-day trading on Wednesday, reaching $11.22. The company had a trading volume of 5,328 shares, compared to its average volume of 12,558. The company has a market capitalization of $18.51 million, a price-to-earnings ratio of -2.20 and a beta of 0.38. Lexaria Bioscience has a 52 week low of $4.21 and a 52 week high of $23.25. The stock has a 50 day simple moving average of $8.12 and a two-hundred day simple moving average of $10.07.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings data on Monday, July 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). On average, equities analysts predict that Lexaria Bioscience will post -4.05 EPS for the current 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.