Lexaria Bioscience (NASDAQ:LEXX) Shares Down 4.1%

Lexaria Bioscience Corp. (NASDAQ:LEXX)’s share price was down 4.1% on Thursday . The stock traded as low as $3.27 and last traded at $3.30. Approximately 72,044 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 312,790 shares. The stock had previously closed at $3.44.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Lexaria Bioscience in a report on Thursday, July 18th.

Lexaria Bioscience Trading Down 5.2 %

The company has a market capitalization of $40.33 million, a P/E ratio of -7.11 and a beta of 0.98. The company has a 50 day moving average price of $3.16 and a 200 day moving average price of $3.17.

Lexaria Bioscience (NASDAQ:LEXX) last released its quarterly earnings data on Friday, July 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.15 million. As a group, sell-side analysts forecast that Lexaria Bioscience Corp. will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Lexaria Bioscience

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new stake in Lexaria Bioscience during the second quarter worth about $63,000. Welch Group LLC acquired a new stake in shares of Lexaria Bioscience during the 1st quarter worth approximately $87,000. Cowen AND Company LLC bought a new position in Lexaria Bioscience in the fourth quarter valued at approximately $320,000. Finally, Armistice Capital LLC acquired a new position in Lexaria Bioscience during the second quarter valued at approximately $2,836,000. Institutional investors own 13.06% of the company’s stock.

About Lexaria Bioscience

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.