Lexaria Bioscience (NASDAQ:LEXX) Stock Price Down 1.8% – Here’s What Happened

Lexaria Bioscience Corp. (NASDAQ:LEXX)’s share price fell 1.8% on Thursday . The stock traded as low as $2.12 and last traded at $2.16. 101,049 shares were traded during trading, a decline of 62% from the average session volume of 265,188 shares. The stock had previously closed at $2.20.

Lexaria Bioscience Stock Down 3.2 %

The stock has a 50-day moving average of $2.71 and a 200 day moving average of $3.02. The stock has a market cap of $33.06 million, a PE ratio of -4.75 and a beta of 1.02.

Hedge Funds Weigh In On Lexaria Bioscience

Large investors have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new position in Lexaria Bioscience during the 3rd quarter worth $40,000. XTX Topco Ltd increased its position in shares of Lexaria Bioscience by 47.8% during the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after purchasing an additional 6,024 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Lexaria Bioscience in the 2nd quarter valued at about $63,000. Geode Capital Management LLC boosted its position in shares of Lexaria Bioscience by 31.0% in the 3rd quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after purchasing an additional 35,608 shares during the period. Finally, Armistice Capital LLC purchased a new position in Lexaria Bioscience during the 2nd quarter worth approximately $2,836,000. 13.06% of the stock is currently owned by institutional investors and hedge funds.

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.