Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Down 41.2% in February

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 383,896 shares, a drop of 41.2% from the February 12th total of 652,818 shares. Based on an average daily volume of 98,115 shares, the short-interest ratio is currently 3.9 days. Approximately 1.7% of the shares of the stock are sold short. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily volume of 98,115 shares, the short-interest ratio is currently 3.9 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Lexaria Bioscience during the 3rd quarter worth about $28,000. Byrne Asset Management LLC increased its stake in Lexaria Bioscience by 236.8% in the fourth quarter. Byrne Asset Management LLC now owns 105,500 shares of the company’s stock valued at $65,000 after acquiring an additional 74,180 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Lexaria Bioscience by 25.7% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 13.06% of the company’s stock.

Lexaria Bioscience Trading Up 3.1%

Lexaria Bioscience stock traded up $0.02 during mid-day trading on Friday, hitting $0.70. 82,894 shares of the company’s stock were exchanged, compared to its average volume of 133,966. The stock has a market cap of $17.42 million, a P/E ratio of -1.25 and a beta of 0.54. Lexaria Bioscience has a 1-year low of $0.46 and a 1-year high of $1.90. The stock has a 50 day moving average of $0.72 and a two-hundred day moving average of $0.89.

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

Analysts Set New Price Targets

LEXX has been the subject of a number of recent research reports. HC Wainwright dropped their price objective 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. Weiss Ratings restated a “sell (e+)” rating on shares of Lexaria Bioscience in a research note on Monday, December 29th. Finally, Wall Street Zen lowered 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.50.

About Lexaria Bioscience

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.