Geode Capital Management LLC Grows Stock Position in Lexaria Bioscience Corp. (NASDAQ:LEXX)

Geode Capital Management LLC grew its stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) by 31.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 150,391 shares of the company’s stock after purchasing an additional 35,608 shares during the period. Geode Capital Management LLC’s holdings in Lexaria Bioscience were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LEXX. XTX Topco Ltd lifted 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 valued at $57,000 after acquiring an additional 6,024 shares during the period. HighTower Advisors LLC purchased a new position in shares of Lexaria Bioscience during the 3rd quarter valued at approximately $40,000. Renaissance Technologies LLC purchased a new position in shares of Lexaria Bioscience during the 2nd quarter valued at approximately $63,000. Finally, Armistice Capital LLC acquired a new position in shares of Lexaria Bioscience in the 2nd quarter valued at $2,836,000. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard Christopher bought 22,828 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were acquired 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 directly owns 22,828 shares in the company, valued at $51,134.72. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.40% of the stock is owned by insiders.

Lexaria Bioscience Trading Down 2.3 %

NASDAQ LEXX opened at $2.16 on Monday. The stock has a market capitalization of $37.70 million, a price-to-earnings ratio of -4.60 and a beta of 0.98. The stock has a 50-day moving average of $2.23 and a 200 day moving average of $2.78. Lexaria Bioscience Corp. has a twelve month low of $1.36 and a twelve month high of $6.85.

Lexaria Bioscience (NASDAQ:LEXX) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Lexaria Bioscience had a negative net margin of 1,249.14% and a negative return on equity of 86.10%. Equities analysts predict that Lexaria Bioscience Corp. will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.