Renaissance Technologies LLC Acquires New Stake in Lexaria Bioscience Corp. (NASDAQ:LEXX)

Renaissance Technologies LLC acquired a new stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 22,800 shares of the company’s stock, valued at approximately $63,000.

Separately, Welch Group LLC purchased a new stake in shares of Lexaria Bioscience in the 1st quarter valued at $87,000. Institutional investors and hedge funds own 13.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Lexaria Bioscience Trading Down 1.3 %

LEXX stock opened at $3.06 on Tuesday. Lexaria Bioscience Corp. has a 12-month low of $0.90 and a 12-month high of $6.85. The company has a market capitalization of $39.43 million, a PE ratio of -6.95 and a beta of 0.97. The business’s fifty day moving average price is $3.24 and its 200 day moving average price is $3.10.

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

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.