Lexaria Bioscience (NASDAQ:LEXX) Trading Down 1.8% – Time to Sell?

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

Lexaria Bioscience Trading Down 1.8 %

The firm’s fifty day moving average price is $2.74 and its 200 day moving average price is $3.03. The firm has a market capitalization of $34.17 million, a PE ratio of -4.91 and a beta of 1.02.

Institutional Investors Weigh In On Lexaria Bioscience

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its holdings in Lexaria Bioscience by 47.8% in 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. HighTower Advisors LLC bought a new stake in Lexaria Bioscience during the third quarter valued at about $40,000. Renaissance Technologies LLC acquired a new position in shares of Lexaria Bioscience during the second quarter valued at about $63,000. Geode Capital Management LLC raised its position in shares of Lexaria Bioscience by 31.0% during the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after buying an additional 35,608 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Lexaria Bioscience during the second quarter valued at about $2,836,000. 13.06% of the stock is currently owned by institutional investors.

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.