Byrne Asset Management LLC Buys 7,400 Shares of Lexaria Bioscience Corp. (NASDAQ:LEXX)

Byrne Asset Management LLC raised its stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) by 132.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,000 shares of the company’s stock after acquiring an additional 7,400 shares during the period. Byrne Asset Management LLC’s holdings in Lexaria Bioscience were worth $27,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC bought a new stake in Lexaria Bioscience during the third quarter worth about $40,000. XTX Topco Ltd lifted its holdings in shares of Lexaria Bioscience by 47.8% during the 3rd quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after acquiring an additional 6,024 shares during the period. Renaissance Technologies LLC bought a new position in Lexaria Bioscience in the second quarter valued at approximately $63,000. Finally, Geode Capital Management LLC raised its position in 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 purchasing an additional 35,608 shares in the last quarter. 13.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Richard Christopher purchased 22,828 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were purchased at an average price of $2.24 per share, for a total transaction of $51,134.72. Following the transaction, the chief executive officer now owns 22,828 shares of the company’s stock, valued at approximately $51,134.72. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 26.40% of the company’s stock.

Lexaria Bioscience Price Performance

Shares of LEXX stock opened at $1.78 on Friday. The business’s 50-day moving average price is $2.10 and its 200-day moving average price is $2.66. Lexaria Bioscience Corp. has a 12 month low of $1.62 and a 12 month high of $6.85.

Lexaria Bioscience (NASDAQ:LEXX) last posted its earnings results on Friday, January 10th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Lexaria Bioscience had a negative return on equity of 88.88% and a negative net margin of 1,473.04%. Analysts predict that Lexaria Bioscience Corp. will post -0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright decreased their price target on Lexaria Bioscience from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, January 24th.

Lexaria Bioscience 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.