HighTower Advisors LLC Acquires Shares of 13,023 Lexaria Bioscience Corp. (NASDAQ:LEXX)

HighTower Advisors LLC purchased a new position in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 13,023 shares of the company’s stock, valued at approximately $40,000.

Separately, Renaissance Technologies LLC bought a new stake in shares of Lexaria Bioscience in the second quarter worth approximately $63,000. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Insider Activity

In related news, CEO Richard Christopher bought 22,828 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average price of $2.24 per share, for a total transaction of $51,134.72. Following the completion of the transaction, the chief executive officer now owns 22,828 shares in the company, valued at $51,134.72. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 26.40% of the company’s stock.

Lexaria Bioscience Trading Up 7.2 %

Shares of NASDAQ:LEXX opened at $2.37 on Friday. The company has a market cap of $41.36 million, a PE ratio of -5.04 and a beta of 0.99. Lexaria Bioscience Corp. has a 12-month low of $1.20 and a 12-month high of $6.85. The stock has a 50 day moving average of $2.31 and a 200 day moving average of $2.84.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Lexaria Bioscience in a report on Monday, December 2nd.

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.